Posted on 03 Apr 2026
Shagang Group (Shagang), China's leading privately-owned steel firm and its largest electric-arc-furnace steelmaker, has decided to hold its long-product list prices for sales over April 1-10 from the previous eleven-day period, the company announced Wednesday.
The Zhangjiagang-based steel group updates its list prices for long products such as rebars three times a month to better reflect market dynamics, as reported.
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 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 has maintained its long steel prices at the same level since late September last year.
The steelmaker gave no explanation for its decision to roll over its prices, but it could be the confusing signals coming from the market currently, in the shape of steady demand from long-product users at a time when inventories remain high compared with this time last year, Mysteel Global notes.
Long steel demand remained largely steady during the last eleven days of March, as most construction companies have resumed work on projects, now that the mild spring weather has returned. During late March, the daily spot trading volume of long steel items comprising rebar, wire rod and bar-in-coil among the 237 trading houses under Mysteel's tracking averaged 94,726 tonnes/day in late-March, essentially unchanged from mid-March.
But compared with the same period last year, spot sales clearly remain sluggish, with the sales volume still posting a huge 15% decline on year, Mysteel Global calculated based on the survey result.
For now, longs prices seem to be marking time, with the spot price of HRB400E 20mm rebar in Shanghai – Shagang's key sales market – assessed by Mysteel at Yuan 3,220/t including the 13% VAT on March 31, down by just Yuan 10/t from March 20.
On the other hand, long steel output also held largely stable in end-March, with the tonnage produced by the 137 steel mills under Mysteel's coverage registering 2.82 million tonnes over March 19-25, edging down by 0.8% or 23,900 tonnes on week, according to Mysteel's survey result.
In parallel, the combined stocks of rebar and wire rod stockpiled in commercial warehouses in the 35 Chinese cities Mysteel regularly checks stood at 7.47 million tonnes as of March 26, slipping by 1.7% or 125,300 tonnes from the level on March 19. The level was still 5.6% higher than at end-March last year, however.
Meanwhile, Shagang has raised its flat product prices by Yuan 100/t for April sales, according to its statement on Wednesday. As a result, the mill's prices for Q235 5.5*1500mm and SPHC 4.0*1250mm hot-rolled coils would register Yuan 3,600/t and Yuan 3,610/t respectively this month, both including the 13% VAT.
Source:Mysteel Global
