Posted on 23 Jul 2026
Shagang Group (Shagang), China's leading privately-owned steel firm and the country's largest electric-arc-furnace steelmaker, has decided to reduce its long-product list prices by Yuan 100/tonne ($14.7/t) for sales over July 21-31 from this month's middle ten days, according to the company's latest announcement on July 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.
With its latest pricing policy, the price of Shagang's HRB400 16-20mm rebar is now Yuan 3,300/t, that for its HPB300 6-10mm wire rod is Yuan 3,340/t, and its HRB400 8-10mm bar-in-coil is now listed at Yuan 3,430/t, all in terms of EXW and including the 13% VAT.
The decision partly reflected Shagang's pessimistic view of market trends, a Shanghai-based analyst noted. The company expects longs demand to stay weak while the scorching summer heat and frequent rains delay progress on outdoor construction projects, he explained.
The spot trading volume of rebar, wire rod and bar-in-coil over the middle ten days of July among the 237 trading houses under Mysteel's tracking averaged 83,007 tonnes/day, down by some 6% or 5,322 t/d from the level in early July.
The dull demand has extended the decline in market prices of Shagang-brand rebars, with the price in Shanghai of HRB400E 20mm rebar produced by the steel giant coming in at Yuan 3,110/t on July 20, down by another Yuan 20/t from July 10, according to Mysteel's assessment.
Following Shagang's decision, Zenith Steel, another steelmaker also based in East China's Jiangsu province, also lowered its list prices for reinforcing bars by Yuan 50/t for late-July sales, Mysteel learned.
Meanwhile, list prices for Zenith Steel's wire rod and bar-in-coil stayed unchanged from the last sales cycle, partly because the company had already cut the prices by Yuan 30/t for early-July sales, Mysteel Global noted.
Source:Mysteel Global
