* Steel prices little changed on cautious buying
* Worse to come as mills cut prices and output
SHANGHAI, June 10 – China steel prices remained stagnant this week but analysts and traders expect further declines over the remainder of the month amid alarming signs of falling demand, bulging stockpiles and weak sentiment.
Industry experts said construction steel prices in Shanghai dipped slightly to 3,780-3,800 yuan ($553.6) per tonne on Thursday, 0.2 percent lower than last week.
Meanwhile, rebar contracts for October delivery on the Shanghai Futures Exchange closed at 4,082 yuan per tonne on Thursday, down 2.8 percent from last week, and down 14 percent since mid-April.
“Market trading activity is quite weak this week — steel market prices are still under downward pressure and steel mills have also slashed prices,” said a Shanghai-based trader.
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