Posted on 04 Feb 2026

Shagang Group (Shagang), China's leading privately-owned steelmaker, has decided to hold its list prices for long products for sales during February 1-10 from its previous eleven-day sales period, the company announced last Sunday.

With its latest pricing policy, Shagang continues to hold the price of its HRB400 16-20mm rebar at Yuan 3,450/tonne ($495/t), its HPB300 6-10mm wire rod at Yuan 3,470/t, and its HRB400 8-10mm bar-in-coil at Yuan 3,560/t. All prices are EXW and include the 13% VAT.

Shagang, headquartered in Zhangjiagang in East China's Jiangsu province, updates its long steel prices three times a month and is generally regarded as the price-setter for the domestic long steel market, particularly in East China, as reported.

The mill has now rolled over its longs prices for fourteen consecutive sales cycles, a decision which market watchers in East China say reflects the steelmaker's cautious, wait-and-see approach for the near-term long steel market.

With this year's Chinese New Year holiday beginning in just two weeks, some traders and building contractors have already taken early leave from work, with only a few showing any interest in replenishing stocks by locking in prices – either for speculative or immediate production purposes, market sources noted. This had resulted in critically few spot transactions and mildly fluctuated long steel prices over late-January, they added.

The daily spot trading volume of rebar, wire rod and bar-in-coil among the 237 trading houses under Mysteel's tracking averaged 70,334 tonnes/day during January 21-31, plummeting by 20.9% or 18,591 t/d from the mid-January period.

The subdued end-user steel demand inevitably led to a sharp accumulation of construction steel inventories amid the steady output, exerting some pressure on long steel prices, Mysteel Global noted.

The combined output of rebar and wire rod among the 137 steel mills under Mysteel's coverage registered 2.76 million tonnes over January 22-28, nudging up by 0.6% or 15,600 tonnes from the production level one week prior.

As of January 29, the combined inventories of rebar and wire rod stockpiled in commercial warehouses in the 35 cities Mysteel regularly monitors had gained by 6.8% or 241,100 tonnes on week to hit 3.77 million tonnes.

On January 30, the spot price of HRB400E 20mm rebar in Shanghai – a major market for Shagang brand rebar – was assessed by Mysteel at Yuan 3,250/t including the 13% VAT, down by Yuan 30/t from the level on January 20.

Meanwhile, Shagang has also kept its flat product prices unchanged for February sales, according to its statement on Sunday. As a result, the mill's prices for Q235 5.5*1500mm and SPHC 4.0*1250mm hot-rolled coils remain at Yuan 3,500/t and Yuan 3,510/t respectively this month, both including the 13% VAT.

Source:Mysteel Global

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