Posted on 12 Sep 2025
Shagang Group (Shagang), China's largest privately-owned steelmaker and headquartered in Zhangjiagang in East China's Jiangsu, has trimmed its rebar list prices by Yuan 100/tonne ($14/t) for sales over September 11-20 and prices for its wire rod and bar-in-coil products by Yuan 150/t for the same sales period, the company announced on Thursday.
With its latest pricing policy, the price of its HRB400 16-20mm rebar is now Yuan 3,450/t, that for its HPB300 6-10mm wire rod is Yuan 3,470/t, and its HRB400 8-10mm bar-in-coil is now listed at Yuan 3,560/t, all in terms of EXW and including the 13% VAT.
Shagang, also the country's largest electric-arc-furnace steelmaker, updates its longs list prices three times a month to better reflect market dynamics, Mysteel Global notes.
Until now, Shagang had rolled over the prices of its long steel items for four pricing cycles, and market sources say its decision to lower these now reflects the softer spot-market conditions prevailing for longs. The reductions also betray Shagang's cautiousness regarding the steel market near-term.
For example, as of September 10, the spot price of HRB400E 20mm rebar in Shanghai – a major market for Shagang's long products – had declined by Yuan 40/t from the price of August 29 to sit low at Yuan 3,230/t including the 13% VAT, according to Mysteel's assessment.
The weakening supply-demand conditions were primarily blamed for the softening prices. The profit margins that steelmakers are enjoying on their long-product sales have thinned markedly, yet despite the smaller returns most steel mills can still earn some money from steel sales, and this is encouraging them to maintain steady production, Mysteel Global notes.
On the other hand, though end-user demand is showing signs of recovering – the mild autumn months of September and October being usually strong months for steel consumption – the pace of recovery is proving far slower than the mills' rate of production, with the result that long-product stocks held by traders are mounting, Mysteel Global notes.
The inventories of rebar, wire rod and bar-in-coil among the commercial warehouses held by traders of the 35 Chinese cities Mysteel regularly monitors mounted by 5.4% or by 433,400 tonnes from August 29 to top 8.52 million tonnes by September 11, according to the latest weekly survey.
Source:Mysteel Global
