Posted on 02 Sep 2025
Shagang Group (Shagang), China's leading privately-owned steelmaker headquartered in Zhangjiagang in East China's Jiangsu province, has rolled over its list prices for long products such as rebar, wire rod and bar-in-coil for sales during September 1-10 from the previous period, the mill announced Monday.
Shagang updates its long steel prices three times a month and is regarded as the price-setter for the domestic long steel market, particularly in East China. This latest decision marks the third consecutive pricing cycle in which Shagang has opted to roll over its longs prices, Mysteel Global noted.
With its latest pricing policy, Shagang continues to hold the price of its HRB400 16-20mm rebar at Yuan 3,550/tonne ($498/t), its HPB300 6-10mm wire rod at Yuan 3,620/t, and its HRB400 8-10mm bar-in-coil at Yuan 3,710/t. All prices are EXW and include the 13% VAT.
Retaining its prices for another sales period reflects the company's cautious stance amid the weakening supply-demand fundamentals of the Chinese steel market as output is rising while the summer lull is keeping demand subdued, according to a market source. The scorching summer heat now prevailing throughout much of China continues to disrupt outdoor construction activities, she noted.
The daily spot trading volume comprising rebar, wire rod and bar-in-coil among the 237 trading houses Mysteel regularly monitors dropped significantly by another 5.57% or by 5,557 tonnes/day during the August 21-31 period, Mysteel Global calculates, to average 94,203 t/d compared with the August 11-20 period. This was much larger than the 0.84% drop recorded in mid-August from August 1-10.
Meanwhile, the output of five major steel products including rebar, wire rod and bar-in-coil among 137 steel mills under Mysteel's tracking rose by 2.88% or 86,400 tonnes on week over August 21-27 to 3.08 million tonnes.
The weakened fundamentals have also influenced the rebar price. As of August 29, the spot price of HRB400E 20mm rebar in Shanghai – a major market for Shagang brand rebar – had declined by Yuan 20/t from the price on August 20 to reach Yuan 3,270/t including the 13% VAT, Mysteel's assessment showed.
Source:Mysteel Global
