Posted on 25 Mar 2026
Shagang Group (Shagang), China's leading privately-owned steelmaker, has rolled over its list prices for long products such as rebar, wire rod and bar-in-coil for sales during March 21-31 from the previous ten-day sales period, the company announced last Saturday.
With its latest pricing policy, Shagang continues to hold the price of its HRB400 16-20mm rebar at Yuan 3,450/tonne ($500/t), that of its HPB300 6-10mm wire rod at Yuan 3,470/t, while its HRB400 8-10mm bar-in-coil price remains 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.
Market sources say that the mill's decision to hold its list prices steady until month's end reflected Shagang's cautious stance towards the near-term steel market as long product fundamentals have shown signs of recovering.
Long steel demand perked up in mid-March but remained relatively weak compared with last year, Mysteel Global noted. This can be partly attributed to the late Chinese New Year (CNY) holiday this year, which delayed the usual pick-up in construction-steel market activity.
Daily spot trading volume of the three dominant long product items among the 237 trading houses under Mysteel's tracking averaged 94,910 tonnes/day in the middle ten days of this month, recovering markedly by 29.7% or 21,739 t/d from early-March. But the level was down by 14.6% from the corresponding period last year, according to the same survey result.
Higher spot transactions also prompted steelmakers to ramp up production, with the combined output of rebar and wire rod among the 137 steel mills Mysteel covers rising by 4% or 110,400 tonnes on week to 2.84 million tonnes over March 12-18.
Thanks to better end-user demand, construction steel inventories also began declining after mounting for ten weeks straight. Combined stocks of rebar and wire rod in commercial warehouses in the 35 cities under Mysteel's coverage were holding largely steady as of March 19, edging down by a negligible 200 tonnes on week to 7.59 million tonnes.
The optimistic sentiment prevailing in the domestic market fueled a modest rise in construction steel prices over the period. For instance, on March 20 Mysteel assessed the spot price of HRB400E 20mm rebar in Shanghai – a major market for Shagang brand rebar – at Yuan 3,230/t including the 13% VAT, up by Yuan 10/t from the level on March 10.
Source:Mysteel Global
