Shanghai Baosteel, China's leading steelmaker, plans on inviting Japan's Nippon Steel and South Korea's Posco to invest in its overseas share offering, the <i>Wall Street Journal</i> reported. Baosteel has yet to set a date for its IPO so official approaches have yet to be made to the two companies, said Chen Ying, spokesperson for Baosteel's Shanghai-listed unit, Baoshan Iron & Steel. Chen was responding to claims made by Japanese media that Baosteel Chairwoman Xie Qihua said in an interview that the company would be open to investment by its key Asian counterparts should it list overseas. Despite a construction boom in China, Baosteel cut prices for core products recently as oversupply saw the market price fall 30% after hitting a 10-year high in March.