China's Baoshan Iron & Steel Co will keep the prices of its main steel products unchanged for June, the company said on Wednesday, reflecting its caution on steel demand growth in the world's second-largest economy.
The country's biggest listed steelmaker has kept prices unchanged for the third consecutive month. Baosteel's pricing moves are regarded as a bellwether for the industry.
Still, steel mills have shrugged off the sluggish growth in demand and ramped up output in a desperate move to maximise profits while margins remain thin in the world's largest steel producer.
Source: Reuters
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