China's Baosteel keeps main product prices unchanged for July

SHANGHAI, June 11 Tue Jun 10, 2014 9:14pm EDT

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SHANGHAI, June 11 (Reuters) - China's Baoshan Iron and Steel (Baosteel) said on Wednesday it will keep its major product prices for July delivery unchanged from June.

The move comes after two consecutive months of price cuts, with Baosteel reducing June prices by between 80-100 yuan a tonne.

Steel consumption is seasonally weaker in China during the summer months that start from June as construction activity thins, extending a slow period for the steel sector that began last month and prompting big producers to curb output.

(Reporting by Fayen Wong; Editing by Ed Davies)

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