Shagang rolls over long steel list prices for late-Feb sales

Shagang Group (Shagang), China's leading privately-owned steelmaker and largest electric-arc-furnace steelmaker, has decided to hold its long-product list prices for sales over February 21-28 unchanged from the previous ten-day period, the company announced last Saturday.

The Zhangjiagang-based steel group updates its longs list prices three times a month to better reflect market dynamics, as reported. Shagang has maintained its long steel prices at the same levels since late September last year, a move market watchers suggest reflects the company's cautious stance toward the near-term