- Cautious pricing decision reflects limited recovery in end-use demand
- Recent spot price rally driven largely by higher raw material prices
China’s Shagang Steel has kept its long steel prices unchanged for sales during 1-10 September 2026. The producer maintained its rebar (16-25 mm) price at RMB 3,250/t ($483/t), coiled rebar (8-10 mm) at RMB 3,380/t ($503/t), and wire rod (6-10 mm) at RMB 3,290/t ($489/t).
The decision reflects the mill’s cautious stance following the sharp rally in domestic long steel prices in late August, which was largely driven by surging metallurgical coke prices after three rounds of price increases. Although spot trading activity has improved, the increase was attributed mainly to speculative buying and restocking rather than a clear recovery in end-user consumption.
Although steel consumption is expected to improve in September with the onset of the traditional peak season, demand has yet to show a sustained recovery. Shagang, therefore, seems to have opted to wait for clearer signs of stronger end-user demand and to monitor emerging market conditions.
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