Shagang Raises Long Steel Prices for Third Consecutive Cycle

Shagang’s Price Hike Reflects Stronger Demand and Cost Pressures

Shagang Group has raised its long steel prices for the third straight cycle, increasing list prices by 200 yuan/t ($27.7/t) for sales from August 1–10. The latest hike applies to rebar, wire rod, and coil products. According to Mysteel Global, the company’s HRB400 rebar (16–20 mm) now sells for 3,550 yuan/ton.

This continued upward trend mirrors a broader steel market recovery in China. Positive macroeconomic signals from Beijing and stable raw material costs have supported the price rally. Industry analysts also point to the start of major infrastructure projects, which have further boosted domestic demand.

Meanwhile, other global rebar markets show mixed performance. While U.S. prices hold steady, European and Turkish markets face weak demand and seasonal pressures. China, however, has gained upward momentum thanks to policy efforts aimed at curbing oversupply and encouraging construction activity.

Long Steel Prices Climb as Beijing Signals Economic Support

Steel mills in China, including Shagang, are responding to rising raw material prices and renewed policy optimism. The late-July surge in rebar prices—reaching $460/t in Shanghai—was driven by expectations of economic stimulus and news of major hydropower investments.

These developments hint at a government-backed push for industrial expansion while addressing overproduction risks. As a result, steelmakers are adjusting offers to reflect higher costs and stronger order volumes. Shagang’s price adjustment follows this trend closely, positioning the company for continued profitability.

While global uncertainties remain, the current environment appears more favorable for China’s long steel segment. Traders and buyers are watching closely for additional policy measures that could extend the rally into the second half of the year.

SuperMetalPrice Commentary:

Shagang’s repeated price hikes signal a notable shift in China’s long steel market fundamentals. The combination of policy support, raw material cost pressure, and infrastructure demand is creating a bullish environment for rebar and wire rod. If Beijing sustains economic stimulus into Q4, steel mills could regain margin strength lost earlier in 2025. For now, the rebar price recovery suggests that market sentiment in China is improving—and that could have a ripple effect on pricing strategies worldwide.