Posted on 13 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 11-20 unchanged from the first ten days of the month, according to the company's latest announcement on August 11.
The Zhangjiagang-based steel group updates its list prices for long steel 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 pegged 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 reflects the steelmakers' cautious stance towards the near-term market, a Shanghai-based analyst noted. By quoting a Mysteel survey, she expects China's construction steel demand to pick up albeit marginally in late August as many construction projects will speed up operations amid cooling temperatures across China.
The actual purchase volume among the 200 Chinese building contractors sampled by Mysteel is estimated to reach 6.52 million tonnes this month, rising by 1.5% on month, according to the survey.
Notably, the same survey shows that in East China, purchase activities for long steel items among local construction enterprises in August are expected to surge by 11% from July's level, serving as the mainstay for domestic demand for steel longs, she highlighted.
Mysteel's other regular survey also reflected a slight recovery in recent downstream buying activities. The daily volume of rebar, wire rod and bar-in-coil traded among the 237 trading houses under Mysteel's tracking averaged 85,975 tonnes/day over early August, up by 2.4% or 1,999 t/d from the last 11 days of July.
Meanwhile, construction steel prices for spot sales also showed signs of bottoming out, with the price of Shagang-brand HRB400E 20mm rebar in Shanghai – Shagang's key sales market – assessed by Mysteel at Yuan 3,050/t on August 10, up by Yuan 10/t from July 31 after hitting its record low of Yuan 3,030/t on August 3.
Similarly, Zenith Steel and Jiangsu Yonggang Group, another two leading steelmakers based in East China's Jiangsu province, also held their list prices for long steel items unchanged for the same sales cycle, Mysteel Global learned.
Source:Mysteel Global
