Baosteel, a major steel mill in China, announced all the product prices were unchanged for May.

According to the market participants, at present, there is an oversupply problem in China. However, production reduction measures might be a good way to stabilize the prices in the market.

Vietnam’s Formosa Ha Tinh Steel Corporation (FHS) and Taiwan's China Steel Corp. (CSC) will also announce their new prices soon. The new prices from FHS and CSC are expected to follow Baosteel's prices.