Posted on 03 Jun 2026
Shagang Group (Shagang), China's leading privately-owned steel firm and the country's largest electric-arc-furnace steelmaker, has decided to roll over its long-product list prices for sales for the June 1-10 period from the last eleven days of May, the company announced on June 1.
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.
With its latest pricing policy, Shagang continues to keep its price for HRB400 16-20mm rebar at Yuan 3,400/tonne ($503/t), its HPB300 6-10mm wire rods stay priced at Yuan 3,440/t, and its HRB400 8-10mm bar-in-coil price remains at Yuan 3,530/t, according to its announcement. All prices are EXW and include the 13% VAT.
Shagang's decision to hold seems to reflect the prevailing sentiment of most major Chinese mills, now cautious about lifting rises with the usual summer lull in the country's steel consumption quickly approaching. Weather events including heavy rains in southern China are disrupting building projects, weakening longs demand there.
Mysteel's recent survey showed that the trading of long steel items including rebar, wire rod and bar-in-coil among the 237 trading houses under its tracking averaged 87,622 tonnes/day over late-May, lower by 9% or 8,593 t/d from May 11-20.
Against this background, spot long steel prices edged lower in late-May, with the spot price of HRB400E 20mm rebar in Shanghai – Shagang's key sales market – being assessed by Mysteel at Yuan 3,270/t including the 13% VAT on May 29, down by a small Yuan 20/t from May 20.
On the other hand, rising prices of blast furnace raw materials such as iron ore and coking coal are apparently behind Shagang's decision to raise prices for all hot-rolled coil products by Yuan 100/t and those of plates by Yuan 150/t for June sales.
As a result, the mill's prices for Q235 5.5*1500mm and SPHC 4.0*1250mm hot-rolled coils are at Yuan 3,700/t and Yuan 3,710/t respectively this month, both including the 13% VAT. In early April, Shagang had raised prices of all its HRC products by Yuan 100/t, as reported, its first rise for hot coil prices in eight months.
Source:Mysteel Global
