Posted on 24 Jun 2026
Shagang Group (Shagang), China's leading privately-owned steel firm and the country's largest electric-arc-furnace steelmaker, has decided to maintain its long-product list prices for sales over June 21-30 from this month's middle ten days, according to the company's latest announcement.
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 ($501/t), its HPB300 6-10mm wire rods remain at Yuan 3,440/t, and its price for HRB400 8-10mm bar-in-coil still holds at Yuan 3,530/t, according to its announcement. All prices are EXW and include the 13% VAT.
Shagang never issues a comment regarding its price announcement but one possible reason for it to roll over its prices was to protect its profitability against higher raw material costs, Mysteel Global noted.
On the other hand, domestic demand of steel longs has contracted further as seasonal rains are affecting larger areas of China with greater intensity, dissuading steel traders and building contractors from replenishing long steel stocks to any large degree. This will intensify the inventory pressure among steelmakers in the near term.
As of June 18, the combined stocks of rebar and wire rod held by the 137 steelmakers under Mysteel's tracking totaled 2.41 million tonnes, up by 1.5% or 34,900 tonnes from the level on June 11.
On the other hand, during June 11-20 the daily spot trading volume of rebar, wire rod and bar-in-coil among the 237 trading houses Mysteel regularly monitors dropped by 2.3% or by 2,121 tonnes/day from early June to average 90,157 t/d.
Spot long steel prices lost more ground over mid-June against the dull demand, with the spot price of HRB400E 20mm rebar in Shanghai – Shagang's key sales market – assessed by Mysteel at Yuan 3,230/t including the 13% VAT on June 18 – the last workday in mid-June before the Dragon Boat holiday weekend – down by a small Yuan 20/t from June 10.
Meanwhile, Zenith Steel and Jiangsu Yonggang Group, steelmakers also based in East China's Jiangsu province, rolled over their list prices for long steel items for the same sales cycle as well, Mysteel Global learned.
Source:Mysteel Global
