Last cut was in September, kept prices steady in May
* Underlines worries over demand outlook
* Steel supply glut may weigh on prices
SHANGHAI, May 9 (Reuters) – China’s biggest listed steelmaker, Baoshan Iron & Steel, will cut its main steel product prices for June, its first reduction in nine months and underscoring demand worries amid a fragile economic recovery.
Pricing moves by the firm, known as Baosteel, usually set the tone for the wider steel sector in the country, with the cut coming as China’s steel demand falls short of expectations and as a supply glut worsens. (…)
via China’s Baosteel slashes June prices, first cut in 9 mths.