Posted on 03 Nov 2026
Shagang Group (Shagang), China's leading privately owned steelmaker and the country's largest electric-arc-furnace (EAF) steel producer, has decided to keep its list prices for long steel products unchanged for November 1-10 sales from those for the final eleven days of October, according to the company's latest announcement on November 1.
The Zhangjiagang-based steel group adjusts its list prices for long products, including rebar, three times a month to better reflect market conditions, as reported.
Under the latest pricing policy, Shagang will continue to offer HRB400 16-20mm rebar at Yuan 3,450/tonne ($519/t), its HPB300 6-10mm wire rod stays listed at Yuan 3,490/t, and HRB400 8-10mm bar-in-coil is still at Yuan 3,580/t. All prices are EXW and include the 13% VAT, according to the announcement.
The decision to keep its ex-works prices for longs unchanged reflected the steel giant's cautious outlook for the near-term market, as buying activity among end users such as construction firms during the traditional September-October peak consumption season had fallen short of expectations, a Shanghai-based analyst commented.
Spot trading of construction steel items, including rebar, wire rod and bar-in-coil, among the 237 trading houses under Mysteel's tracking averaged 89,728 tonnes/day over October 21-31, down by 1% from October 11-20 and 12.9% from the same period last year.
The sluggish trading activity continued to weigh on market sentiment and exert downward pressure on long steel prices. Mysteel assessed the spot price of Shagang-brand HRB400E 20mm rebar in Shanghai at Yuan 3,140/t on October 30, down by Yuan 40/t from October 20.
In the meantime, Shagang has also held its flat product prices steady for November sales, according to another statement. As a result, the mill's prices for Q235 5.5*1500mm and SPHC 4.0*1250mm hot-rolled coils continued to stay at Yuan 3,650/t and Yuan 3,660/t respectively for this month, both including the 13% VAT.
Meanwhile, Zenith Steel and Jiangsu Yonggang Group, two other major steelmakers based in East China's Jiangsu province, also kept their list prices for long steel products unchanged for the same sales period, reflecting a similarly cautious pricing stance, Mysteel Global learned.
Source:Mysteel Global
