Shagang raises list prices for steel longs for early-Oct sales

Shagang Group (Shagang), China's largest electric-arc-furnace steelmaker, has lifted its long-product list prices by another Yuan 100/tonne ($14/t) for sales over October 1-10 from the last ten days of September, according to the company's latest pricing announcement.

Shagang has now raised ex-works prices for long steel sales for three consecutive pricing cycles, reflecting its positive stance towards the near-term market, Mysteel Global noted. The Zhangjiagang-based steel group updates its list prices for long products such as rebars three times a month to better reflect market dynamics, as