Reuters reported that China Baoshan Iron & Steel will keep its main steel product prices unchanged for May bookings, mirroring its caution over slower growth in steel demand.
It was the third time for the Shanghai-based company to keep prices flat after leaving them unchanged for April. Baosteel pricing moves are regarded as a bellwether for the industry.
The company earlier warned that the Chinese steel sector would continue suffering from over-capacity and low profit, as well as low demand growth this year although China's steel demand still has room to grow along with the country accelerating industrialisation and urbanisation in the medium to long term.
Sourced from Reuter