Shagang holds long steel prices again for mid-Nov sales

Shagang Group (Shagang), China's leading privately-owned steelmaker headquartered in East China's Jiangsu province, is rolling over its list prices for rebar, wire rod and bar-in-coil for sales over November 11-20 from the previous sales period, the company announced on Monday.

The decision means Shagang has now kept prices of its major long steel items unchanged for two successive ten-day sales cycles, Mysteel Global notes. Consequently, the steel giant's HRB400 16-20mm rebar is still priced at Yuan 3,850/tonne ($536/t) for mid-November sales, its HPB300 6-10mm high-speed wire rod remains at Yuan