Two leading Chinese steelmakers will keep their main product prices unchanged for April despite current weak demand and rising inventories, giving the sector a much-needed shot in the arm.

The decision was made Tuesday by Baoshan Iron & Steel and Wuhan Iron & Steel, on hopes that end users would start to stock up from next month.

In March, China's steelmakers raised prices for the third month in a row, but weak demand and soaring stockpiles led to concerns that prices could be cut in April. However, steel mills are not likely to slash production to support the market unless they suffer huge losses.