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Shagang rolls over long steel prices for late-Feb sales

Shagang Group, China’s largest privately-owned steel producer and a leading rebar supplier in East China’s Jiangsu province, will continue to roll over its list prices of long steel products for sales over February 21-28, it announced on February 21. Industry watchers were surprised given that the domestic steel market is in a strong mood for price increases.
Shagang has now kept its prices unchanged since January 11 or for the fifth ten-day pricing term in a row, according to Mysteel’s tracking. For the rest of February, its HRB400 16-25mm rebar will still be priced at Yuan 4,700/tonne ($727.6/t), and HPB300 6-10mm high-speed wire rod and HRB400 8-10mm bar-in-coil at Yuan 4,860/t


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