Posted on 23 Apr 2026
Shagang Group (Shagang), China's largest privately-owned steelmaker and headquartered in Zhangjiagang in East China's Jiangsu, has trimmed its rebar list prices by Yuan 100/tonne ($14.7/t) for sales over April 21-30, the company announced on April 21. Prices for its wire rod and bar-in-coil products have also been cut by Yuan 80/t for the same sales period.
With its latest pricing policy, the price of Shagang's HRB400 16-20mm rebar is now Yuan 3,350/t, that for its HPB300 6-10mm wire rod is Yuan 3,390/t, and its HRB400 8-10mm bar-in-coil is now listed at Yuan 3,480/t, all in terms of EXW and including the 13% VAT.
This marks the first adjustment that the Zhangjiagang-based steel giant has announced for long steel products since late September last year, Mysteel Global notes. Shagang updates its list prices for long steel products such as rebars three times a month to better reflect market dynamics, as reported.
One possible reason for the price cut was to ease the pressure on traders sourcing long products from the mill, a Shanghai-based analyst noted.
China's domestic long steel market witnessed broad gains in mid-April in sync with stronger prices of rebar derivatives. On April 20 Mysteel assessed the national price of HRB400E 20mm dia rebar at Yuan 3,368/t, higher by Yuan 46/t from the level on April 10, according to Mysteel's assessment.
But Shagang's previous ex-works price of Yuan 3,450/t for bars of the same specification was still higher than the average market level, causing traders selling Shagang-brand rebar to lose money.
Another explanation is that Shagang holds a cautious stance towards the near-term market and so clipped prices in advance to maintain the competitiveness of its long steel products after the market's present macro-driven buoyancy slowly fades, the analyst argued.
Although the upbeat market sentiment in the middle ten days of April led spot transactions for construction steel products to strengthen, actual demand for those items remains low as major consumption sectors such as infrastructure development and private construction lack momentum.
At the same time, heavy rains affecting some regions in the mid-April period have also disrupted outdoor construction work, Mysteel Global noted.
Over this year's first quarter, the total floor area of newly launched property projects nationwide plunged by 20.3% on year to 103.73 million square meters, with starts on residential properties slumping by 22% to 74.2 million sq m, data from the National Bureau of Statistics indicated.
Source:Mysteel Global
