Posted on 23 Sep 2026
Shagang Group (Shagang), China's largest electric-arc-furnace steelmaker, has lifted its long-product list prices by another Yuan 50/tonne ($7.5/t) for sales over September 21-30 from the middle ten days of this month, according to the company's latest pricing announcement issued on September 21.
This marks the second consecutive pricing cycle for the steel giant to raise its ex-works prices for its long steel items – something the East China mill hasn't done since November 2023, Mysteel Global observed.
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 Shagang's latest pricing policy, its list price of HRB400 16-20mm rebar is now Yuan 3,350/t, that for its HPB300 6-10mm wire rod is Yuan 3,390/t, and its HRB400 8-10mm bar-in-coil is now listed at Yuan 3,480/t, all in terms of EXW and including the 13% VAT, according to the release.
Shagang never provides any explanation on its pricing policies, but a Shanghai-based analyst attributed its decision to hopes of rising restocking demand from end-users ahead of China's Mid-Autumn Festival and National Day holidays that began on September 25 and October 1 respectively.
But actual end-user demand remains dull, with cashflow among building contractors still tight and progress on projects slow. This may cast some clouds over the near-term outlook, the analyst warned.
During September 11-20, the daily spot trading volume of rebar, wire rod and bar-in-coil among the 237 trading houses under Mysteel's tracking averaged 91,839 tonnes/day, edging up by a marginal 570 t/d from the average recorded during the first ten days of this month.
The lukewarm sentiment in the physical market over the past ten days kept traders cautious, with their offer prices fluctuating within a narrow range.
Mysteel assessed the spot price of Shagang-brand HRB400E 20mm rebar in Shanghai at Yuan 3,190/t on September 20, unchanged from the level on September 10.
Meanwhile, Zenith Steel and Jiangsu Yonggang Group, two leading steelmakers also based in Jiangsu province, seem to have taken a more careful approach to the present sales cycle, with both steel mills deciding to hold their list prices for steel longs unchanged for late-September, Mysteel learned.
Source:Mysteel Global
