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Shagang keeps rebar price stable amid positive outlook

Shagang Group, China’s largest private steel producer based in East China’s Jiangsu province, will roll over its rebar list price for sales over December 11-20, the mill announced on Wednesday. The steelmaker wants to firmly support the price, despite the recent weakness in the domestic market, a Shagang official explained to Mysteel Global.
Therefore, Shagang’s ex-works price for HRB400 16-25 dia rebar will remain at Yuan 4,210/tonne ($598/t), unchanged from the prior sales term over December 1-10 and despite the fact that during the last few days, market transaction prices for rebars in Shanghai have declined by a total of Yuan 110/t, Mysteel


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