Posted on 14 Sep 2026
Shagang Group (Shagang), China's largest electric-arc-furnace steelmaker, has decided to lift its long-product list prices by Yuan 50-150/tonne ($7.5-22.4/t) for sales over September 11-20 from the first ten days of this month, according to the company's latest pricing announcement issued on September 11.
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 has raised its rebar list prices by Yuan 50/t, with the new price for its HRB400 16-20mm rebar now being Yuan 3,300/t EXW including the 13% VAT, according to the release.
Meanwhile, the company decided to lift the ex-works prices for its wire rods and bar-in-coil by a larger Yuan 150/t for the new sales cycle, with the price for HPB300 6-10mm wire rods and that for HRB400 8-10mm bar-in-coil now at Yuan 3,340/t and Yuan 3,430/t including the 13% VAT respectively, the release showed.
Shagang never comments on its pricing decisions. But according to a Shanghai-based analyst, the domestic long steel market has gained significantly since late August amid surging coke prices. Shagang's price hike is a response to that trend, especially after the steelmaker had held its list prices in early September.
Domestic purchasing prices for metallurgical coke were raised twice in quick succession in the first ten days of September, with those steelmakers without their own coke ovens now having to pay an extra Yuan 200-220/t for their met coke, as reported.
Although soaring prices of steelmaking raw materials have provided steady support for spot transactions of steel longs, actual demand for construction steel items continues to hover low, partly pressured by limited cashflow among contractors for building projects, Mysteel Global noted.
"The subdued consumption of long steel has already started to weaken the near-term expectations of market participants," the analyst pointed out.
Specifically, on September 10 Mysteel assessed the spot price of Shagang-brand HRB400E 20mm rebar in Shanghai at Yuan 3,190/t, only higher by a small Yuan 10/t from August 31.
In addition, during September 1-10, the daily spot trading volume of rebar, wire rod and bar-in-coil among the 237 trading houses under Mysteel's tracking averaged 91,269 tonnes/day, retreating by 6.3% or 6,147 t/d from the average recorded during late-August.
Zenith Steel and Jiangsu Yonggang Group, two leading steelmakers also based in East China's Jiangsu province, seem to have taken a more cautious stance towards their mid-September prices, as they had already sharply raised their long steel list prices for the previous sales cycle, Mysteel Global learned.
Specifically, both steel mills kept their rebar prices unchanged for the middle ten days of September, while Zenith Steel raised its EXW prices for wire rod and bar-in-coil products by Yuan 30/t for the same period.
Source:Mysteel Global
