Posted on 04 Aug 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 August 1-10 from the last ten days of July, according to the company's latest announcement on August 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 3,300/tonne ($489/t), its price for HPB300 6-10mm wire rods is still at Yuan 3,340/t, and that for HRB400 8-10mm bar-in-coil remains at Yuan 3,430/t, according to its announcement. All prices are EXW and include the 13% VAT.
The decision suggests Shagang is trying to prevent deeper losses against dropping long steel prices, a Shanghai-based analyst noted.
Sluggish downstream demand and bearish market sentiment led long steel prices to drop moderately in late July, as reported. The spot price of Shagang-brand HRB400E 20mm rebar in Shanghai – Shagang's key sales market – was assessed by Mysteel at Yuan 3,040/t on July 31, down by Yuan 70/t from July 20 and marking an all-time low.
The spot trading volume of rebar, wire rod and bar-in-coil among the 237 trading houses under Mysteel's tracking averaged 83,976 tonnes/day over late July, continuing to hover low despite a small recovery by 1.2% or 969 t/d from the middle ten days of last month.
In contrast to Shagang, Zenith Steel and Yonggang Group, two steelmakers also based in East China's Jiangsu province, cut their list prices for rebar, wire rod and bar-in-coil by Yuan 100/t to Yuan 3,200-3,550/t for early-August sales cycle, Mysteel Global learned.
Source:Mysteel Global
