China's Shagang Maintains Long Steel Prices Unchanged for Late June

en.Wedoany.com Reported - China's Shagang Group has kept its bar and wire rod product prices unchanged for sales in late June 2026. The ex-factory price for rebar (16-25mm) is set at 3,400 yuan/ton ($500/ton), wire rod (8-10mm) at 3,530 yuan/ton ($519/ton), and high-speed wire rod (6-10mm) at 3,440 yuan/ton ($506/ton).

This price freeze comes amid pressure on domestic market demand. Due to persistent rainfall in many regions recently, construction activities have been affected, leading to a decline in steel consumption. Meanwhile, rebar futures prices have gradually weakened, falling to a two-month low of 3,112 yuan/ton ($458/ton) on June 24, down 78 yuan/ton ($11/ton) from 3,190 yuan/ton ($469/ton) on April 24, reflecting cautious market sentiment and subdued purchasing interest.

However, steel production costs remain relatively high. On June 24, the ex-factory price of metallurgical coke in Tangshan, Hebei, was 1,830 yuan/ton ($269/ton), up 55 yuan/ton ($8/ton) week-on-week from 1,775 yuan/ton ($261/ton) on June 17; the ex-factory price of coking coal in Changzhi, Shanxi, was approximately 1,553 yuan/ton ($228/ton), remaining stable week-on-week. These rising raw material prices support steel mills' cost structures, largely offsetting the impact of weaker iron ore prices—the CNF price of iron ore at Rizhao Port fell from $101/ton on June 17 to about $97/ton on June 24, a week-on-week decline of $4/ton. Therefore, despite weak demand, firm production costs limit the room for further price cuts.

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