Posted on 22 Aug 2025
Shagang Group (Shagang), a leading electric-arc-furnace (EAF) steel producer headquartered in East China's Jiangsu province, has decided to maintain the list prices of its major long steel products including rebar, wire rod and bar-in-coil unchanged for sales over August 21-31, Mysteel Global learned from the company's latest release on Thursday.
This marks the second consecutive ten-day pricing cycle in which Shagang has rolled over its longs list prices, reflecting the steelmaker's cautious, wait-and-see approach amid lackluster seasonal demand, Mysteel Global notes.
Shagang releases its long steel list prices three times a month, and its pricing decisions are widely regarded as a pointer to sentiment in China's long steel market, Mysteel Global notes.
With the latest pricing policy, Shagang continues to hold the price of its HRB400 16-20mm rebar at Yuan 3,550/tonne ($495/t), its HPB300 6-10mm wire rod at Yuan 3,620/t, and HRB400 8-10mm bar-in-coil at Yuan 3,710/t. All prices are EXW and including the 13% VAT.
The steel major's price roll-over largely reflected weakened fundamentals in the long steel market while there were few macroeconomic stimuli. Downstream demand remained subdued amid high temperatures and torrential rains across much of China against relatively high output at domestic steel mills, which led to a quick stock accumulation, Mysteel notes.
For instance, rebar inventories held by traders in the 35 Chinese cities under Mysteel's tracking jumped by 11.3% or 440,300 tonnes to 4.32 million tonnes over August 7-21.
Meanwhile, the daily spot trading volume of rebar, wire rod and bar-in-coil among the 237 trading houses Mysteel regularly monitors averaged 99,761 tonnes/day during August 11-20, dipping by about 1% compared with the first ten days of this month.
The imbalanced market fundamentals also weighed on spot rebar prices. The spot price of HRB400E 20mm rebar in Shanghai – a major market for the Shagang brand rebar – declined by Yuan 50/t from August 8 to sit at Yuan 3,290/t including the 13% VAT as of August 20, Mysteel's assessment showed.
Source:Mysteel Global
