Posted on 25 May 2026
Shagang Group (Shagang), China's leading privately-owned steel firm and largest electric-arc-furnace steelmaker, has decided to roll over its long-product list prices for sales over May 21-31 from the middle ten days of this month, according to the company's announcement on May 21.
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 3,400/tonne ($500/t), its HPB300 6-10mm wire rods stay priced at Yuan 3,440/t, and its HRB400 8-10mm bar-in-coil is still at Yuan 3,530/t, according to its announcement. All prices are EXW and include the 13% VAT.
On May 21, Yonggang and Zenith Steel, two steelmakers also based in East China's Jiangsu province, announced that they too would be holding their list prices for long steel items unchanged for the same sales cycle, Mysteel Global learned.
The price rollovers are evidence of the cautious stance of steelmakers toward the near-term market for long steel, Mysteel Global noted. The makers fear that their profitability will be eroded in the weeks ahead by the dual impact of elevated steelmaking raw material prices and sluggish spot transactions from the arrival of the rainy season and the usual summer slowdown elsewhere.
During the mid-May period, the daily spot trading volume of long steel items including rebar, wire rod and bar-in-coil among the 237 trading houses under Mysteel's tracking averaged 96,215 tonnes/day, slower by a large 19.1% or 22,741 t/d from this month's first ten days.
The waning market sentiment and poorly performing retail sales have caused spot rebar prices to steadily decline for the past ten days. Specifically, the spot price for HRB400E 20mm dia rebar in Shanghai – a main destination for Shagang-brand rebar – had declined by Yuan 30/t from the price on May 9 to hit Yuan 3,290/t on May 20, according to Mysteel's assessment.
Source:Mysteel Global
