Posted on 13 Mar 2026
Shagang Group (Shagang), China's leading privately-owned steel company and its largest electric-arc-furnace steelmaker, has decided to roll over long-product list prices for sales over March 11-20 from the previous ten-day period, the company announced Wednesday.
The steel group based in East China's Jiangsu province updates its longs list prices three times a month to better reflect market dynamics, as reported. Shagang has maintained its long steel prices at the same level since late September last year, and market watchers suggest its decision to hold prices again reflects its cautious stance toward the near-term market.
Consequently, Shagang continues to keep its price for HRB400 16-20mm rebar at Yuan 3,450/tonne ($502/t), its HPB300 6-10mm wire rods remain at Yuan 3,470/t, and its HRB400 8-10mm bar-in-coil stays priced at Yuan 3,560/t, according to its announcement. All prices are EXW and include the 13% VAT.
Long steel demand recovered substantially in the first ten days of March as most construction companies resumed business after the Chinese New Year (CNY) holiday. This also led Chinese steelmakers including Shagang to lift production over the period, Mysteel Global noted.
The combined output of rebar and wire rod among the 137 steelmakers surveyed by Mysteel totaled 2.36 million tonnes over March 5-11, up by 9.9% or 246,900 tonnes from one week prior.
Higher end-user demand also led to slower inventory accumulation in early March. As of March 12, the combined inventories of rebar and wire rod held in the commercial warehouses of traders in the 35 Chinese cities under Mysteel's coverage rose by only 3.1% or 230,500 tonnes on week to 7.59 million tonnes. In comparison, during the week to March 5 the tonnage had leapt by 12.2% or 799,400 tonnes on week to 7.36 million tonnes, as reported.
Market sentiment over March 1-10 was largely positive, which stemmed from recovering demand and some macroeconomic events such as China's annual tone-setting 'Two Sessions' political meetings in Beijing, Mysteel Global noted.
The upbeat mood in the domestic market led construction steel prices to rise mildly over the period. For instance, on March 10 Mysteel assessed the spot price of HRB400E 20mm rebar in Shanghai – a major market for Shagang brand rebar – at Yuan 3,220/t including the 13% VAT, up by Yuan 20/t from the level on February 28.
Source:Mysteel Global
