Posted on 05 Jan 2026
Shagang Group (Shagang), China's leading privately-owned steelmaker, has decided to hold its list prices for long products for sales during January 1-10 from its previous eleven-day sales period, the company announced last Thursday, the first day of China's three-day New Year holiday.
With its latest pricing policy, Shagang continues to hold the price of its HRB400 16-20mm rebar at Yuan 3,450/tonne ($493/t), its HPB300 6-10mm wire rod at Yuan 3,470/t, and its HRB400 8-10mm bar-in-coil at Yuan 3,560/t. All prices are EXW and include the 13% VAT.
Shagang, headquartered in Zhangjiagang in East China's Jiangsu province, updates its long steel prices three times a month and is generally regarded as the price-setter for the domestic long steel market, particularly in East China, Mysteel Global noted.
Its latest price decision marks the eleventh consecutive pricing cycle in which Shagang has opted to roll over its longs prices. The decision also showed the steel giant's cautious stance regarding the near-term long steel market, an industry source said.
Despite the rise in longs output during the late-December period, production still hovered at relatively low levels last week, with the combined output of rebar and wire rod standing at 2.64 million tonnes over December 25-31, down by 9.1% from the 2025 weekly average of 2.91 million tonnes, Mysteel Global learned from the survey result.
Long steel demand contracted slightly in late-December, a trend set to persist in early-January as work on more outdoor construction projects across China is likely to halt as daytime temperatures fall lower. Moreover, weakening demand may continue to slow the pace of the decline in long steel inventories and maybe even reverse the trajectory, a Shanghai analyst predicts.
The daily spot trading volume for construction steel items including rebar, wire rod and bar-in-coil among the 237 trading houses under Mysteel's coverage averaged 96,079 tonnes/day over late-December, edging down by 0.9% or by 910 t/d compared to the average over the previous ten-day period.
The combined stocks of rebar and wire rod held by traders in their commercial warehouses in the 35 cities Mysteel regularly checks eased by 3.7% or 125,900 tonnes on week to hit 3.25 million tonnes over December 26-31. During the week of December 19-25, the stocks of steel longs had thinned by a larger 6.2% or 222,300 tonnes on week, as Mysteel Global reported.
China's finished steel prices have kept largely steady recently, with the national average price of HRB400E 20mm dia rebar under Mysteel's assessment registering Yuan 3,324/t including the 13% VAT as of December 31, dipping by a negligible Yuan 1/t from the level on December 19.
Source:Mysteel
