Shanghai Daily reported that Chinese steel giant Baoshan Iron & Steel Co has kept major product prices for July delivery flat from June, after cutting them for two consecutive months.

Still, BaoSteel cut the prices for some specialty products for July.

BaoSteel’s announcement yesterday showed the company aims to stabilize the market although demand is seasonally weak in the summer

BaoSteel’s pricing policy typically serves as a benchmark for the rest of the industry in China.