Shagang rolls over long steel prices for early-Dec sales
Dec 01, 2020 14:00
See Full-size Table Here
Shagang Group, China’s largest rebar maker headquartered in East China’s Jiangsu province, has rolled over its list prices of long steel products, including rebar, wire rod and bar-in-coil unchanged from last ten days of November for domestic sales over December 1-10, probably on noting the domestic steel price softening recently, Mysteel Global noted.
The latest ten-day steel pricing policy indicate that Shagang may
have its steel margins squeezed as the steel mill, also the country’s largest
electric-arc-furnace-based steel producer, raised its steel scrap procurement
price by Yuan 50/tonne ($7.6/t)
effective November 26.
Shagang’s latest pricing policy also aligns with the market
cautiousness for the last month of 2020, and