Posted on 07 May 2026
Shagang Group (Shagang), China's leading privately-owned steel firm and its largest electric-arc-furnace steelmaker, has decided to roll over its long-product list prices for sales over May 1-10 from the previous ten-day sales cycle, the company announced on May 6.
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 3,350/tonne ($492/t), its HPB300 6-10mm wire rods stay priced at Yuan 3,390/t, and its HRB400 8-10mm bar-in-coil is still at Yuan 3,480/t, according to its announcement. All prices are EXW and include the 13% VAT.
The mill's list prices are still higher than those of Shagang-brand steel being sold in some major markets, however. This says much about the pressure faced by traders who sourced long steel products from Shagang and most likely led it to stay cautious on adjusting list prices for longs – even amid the upbeat sentiment seen in late April, Mysteel Global noted.
For instance, on April 30 Mysteel assessed the spot price of HRB400E 20mm rebar in Shanghai – Shagang's key sales market – at Yuan 3,260/t including the 13% VAT, up by a small Yuan 10/t from ten days prior.
The relatively tiny increase in Shanghai rebar prices contrasts with the broader gain in the national average over the same period. The national price of bars of the same specification was assessed by Mysteel at Yuan 3,415/t on April 30, higher by Yuan 47/t from the level on April 20.
The phenomenon can be primarily attributed to the divergent inventory pressure in different regions of China, with markets in the south nursing higher stocks while those in northern markets are suffering shortages of certain specifications.
This regional divergence in inventory pressures partly explains why Shagang, whose major sales markets are south of the Yangtze, opted to roll over its list prices rather than follow the national price increase.
Meanwhile, Shagang has also maintained its flat product prices unchanged for May sales, according to its statement on the same day. As a result, the mill's prices for Q235 5.5*1500mm and SPHC 4.0*1250mm hot-rolled coils are still at Yuan 3,600/t and Yuan 3,610/t respectively this month, both including the 13% VAT.
Source:Mysteel Global
