Posted on 12 Nov 2025
Shagang Group (Shagang), China's leading privately-owned steelmaker, has decided to hold its long-product list prices for sales during November 11-20 from the previous eleven-day period, the company announced Tuesday.
Consequently, Shagang continues to keep its price for HRB400 16-20mm rebar at Yuan 3,450/tonne ($484/t), its HPB300 6-10mm wire rods stay priced at Yuan 3,470/t, and its HRB400 8-10mm bar-in-coil is still at Yuan 3,560/t, according to its announcement. All prices are EXW and include 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, as Mysteel Global has reported.
The mill has now kept its long steel prices unchanged for six consecutive sales cycles, a decision market watchers suggest points to the company's cautious, wait-and-see stance toward the near-term market.
In early-November, the daily spot trading volume of long steel products including rebar, wire rod and bar-in-coil among the 237 trading houses under Mysteel's tracking lost ground, with the tonnage registering 98,314 tonnes/day on average, lower by 4.5% or by 4,669 t/d from late-October.
As of November 10, the spot price of HRB400E 20mm rebar in Shanghai – a major market for Shagang brand rebar – had dropped by Yuan 40/t from the price on October 31 to reach Yuan 3,190/t including the 13% VAT, Mysteel's assessment showed.
Nevertheless, a decline in construction steel output in early November is being viewed positively and seems set to continue over November 11-17, which should prompt a recovery in long-product market fundamentals and bring about a further decline in inventory levels.
The combined output of rebar and wire rod among the 137 steel mills under Mysteel's coverage stood at 2.95 million tonnes over the week of October 30-November 5, down by 2.4% or 73,900 tonnes on week.
Profitability among China's steel mills has also hit a near-one-year low, with only 98 of the 247 mills tracked by Mysteel reporting they could make money on sales as of November 7, some 13 fewer compared with the previous week.
As of November 6, traders in the 35 cities nationwide that Mysteel follows were holding 4.95 million tonnes of rebar and wire rod in inventory, down by 1.1% or 54,400 tonnes on week and marking the fourth consecutive on-week drop.
Source:Mysteel Global
