Posted on 12 Nov 2026
Shagang Group (Shagang), China's leading privately owned steelmaker and the country's largest electric-arc-furnace steelmaker, has decided to keep its list prices for long steel products unchanged for sales over November 11-20 from the first ten days of this month, according to the company's latest announcement on November 11.
The Zhangjiagang-based steelmaker adjusts its list prices for long products, including rebar, three times a month to better reflect market conditions, as Mysteel has reported.
Under the latest pricing policy, Shagang will continue to offer HRB400 16-20mm rebar at Yuan 3,450/tonne ($517/t), HPB300 6-10mm wire rod at Yuan 3,490/t, and HRB400 8-10mm bar-in-coil at Yuan 3,580/t. All prices are ex-works and include 13% VAT, according to the announcement.
The decision to maintain its ex-works prices for longs reflects the steel giant's cautious outlook for the near-term market, as domestic prices of the products had fluctuated within a narrow range during the first ten days of November, a Shanghai-based analyst said.
"Demand for steel longs is likely to weaken in mid-November as falling temperatures bring outdoor construction activities at some worksites in Northern China to a halt. However, relatively low steel output and the resulting lean inventories of long steel products are expected to offer some price support," he said.
According to a Mysteel monthly survey, the actual volume of long steel products likely to be purchased this month by 200 sampled Chinese construction contractors is estimated to reach 6.74 million tonnes, down by a modest 2.9% from their purchases in October.
By region, Northeast and Northwest China are expected to see the steepest declines, with purchases by the surveyed contractors in the two regions projected to fall by 13.9% and 13% on month, respectively, amid the colder weather, the survey findings showed.
Meanwhile, during November 1-10 the spot trading volume of construction steel products, including rebar, wire rod and bar-in-coil, among the 237 trading houses under Mysteel's tracking averaged 87,220 tonnes/day, down by a marginal 0.8% from late October and 11.3% from the same period last year.
Amid subdued market sentiment and weak near-term demand prospects, prices of long steel products continued to edge lower. Mysteel assessed the spot price of Shagang-brand HRB400E 20mm rebar in Shanghai at Yuan 3,120/t on November 10, down by Yuan 20/t from October 30.
Meanwhile, Zenith Steel and Jiangsu Yonggang Group, two other major steelmakers based in East China's Jiangsu province, also maintained their list prices for long steel products for the same sales period, reflecting a similarly cautious pricing stance, Mysteel Global learned.
Source:Mysteel Global
