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Shagang lifts long steel prices by $30/t for mid-April


Shagang Group, China’s largest privately-owned steel producer based in East China’s Jiangsu province, is raising list prices of all its major long steel products by another Yuan 200/tonne ($30.5/t) for sales over April 11-20, on top of Yuan 100-200/t increase for early April, according to its latest pricing policy announced on April 10.
Shagang’s price adjustment is within market expectations however, because recently, domestic steel sales have been robust and spot market transaction prices have also risen significantly. Nonetheless, market sources suggest pressure is building for a downward correction in the near term. As of April 9, the national average spot trading price of HRB400E 20mm dia rebar was Yuan


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