China’s Shagang holds long steel prices flat for mid-May

Jiangsu Shagang Group, China’s largest privately-owned steel producer in East China’s Jiangsu province, announced in its latest pricing policy to remain its long steel list prices unchanged for spot orders over May 11-20 amid a possible softening in demand and not to widen the gap with the market level.

“Our sales are still considerably good, but we have decided to keep our EXW prices stable in consideration of the actual transaction prices in the spot market,” an official in charge of the company’s long steel sales explained to Mysteel Global on May 13. This has been the second time