Steel prices unchanged

China's Baoshan Iron & Steel Co (Baosteel) will keep the prices of its main steel products unchanged for June, the company said Wednesday.

The country's biggest listed steel maker has kept prices unchanged for the third consecutive month. Baosteel's pricing moves are regarded as a bellwether for the industry.

The Chinese steel sector, after losing 1 billion yuan ($158.53 million) in the first quarter of 2012, will face a long period of low profitability, said Xu Lejiang, chairman of Baosteel's parent group.