Posted on 14 Jul 2025
Shagang Group (Shagang), China's leading private steelmaker headquartered in Zhangjiagang in East China's Jiangsu province, has lifted its list prices of rebar, wire rod, and bar-in-coil by Yuan 50/tonne ($7/t) for sales over July 11-20, according to its latest pricing announcement on Friday. This marks the company's first price adjustment after rolling prices over for three straight sales periods since mid-June, Mysteel Global notes.
With the latest pricing policy, Shagang's HRB400 16-20mm rebar is now priced at Yuan 3,300/t, and its prices for HPB300 6-10mm high-speed wire rod and HRB400 8-10mm bar-in-coil have been raised to Yuan 3,370/t and Yuan 3,460/t respectively, all in terms of EXW and including the 13% VAT.
Market sources noted that the price hike reflects an improvement in market sentiment, supported by rising domestic-market steel prices and firm steelmaking raw material costs – even though end-user demand remains lackluster.
For example, on July 10 Mysteel assessed the spot price of HRB400E 20mm rebar in Nanjing – Jiangsu's provincial capital – higher by a large Yuan 110/t from the price on June 30 to touch a 1.5-month high of Yuan 3,330/t and including the 13% VAT.
Over the same ten-day period, Mysteel's iron ore index for SEADEX 62% Australian Fines had climbed by $4.55/dmt to reach $98.1/dmt CFR Qingdao – also a 1.5-month high.
On the demand side, Mysteel's survey among the 237 Chinese steel trading houses it tracks nationwide showed that during early July, their daily trading volume of long steel items of rebar, wire rod and bar-in-coil sat low at 103,090 tonnes/day on average. This was higher by 3.4% from late June's average, but still lower by 16.7% compared with the same period last year.
"Domestic macro-economic sentiment has turned more upbeat, with growing expectations for supportive measures ahead of (China's) Politburo meeting later this month. This optimism has boosted the overall tone of the ferrous market," said a Shanghai-based futures analyst.
Reflecting the improved mood, on Friday the most-traded rebar futures contract on the Shanghai Futures Exchange for October delivery rose a third consecutive trading day, gaining Yuan 34/t or 1.1% from Thursday's settlement price to close at Yuan 3,133/t when the daytime trading session ended.
Source:Mysteel Global
