Baosteel cuts Q4 cold-rolled steel price

Baoshan Iron and Steel Co Ltd, the listed unit of China's largest steel maker, will cut its sales prices for cold-rolled steel products for the fourth quarter by 300 yuan from the third quarter, trade sources said on Monday.

The sources noted an easing of demand in the auto sector as a factor behind the decline in prices.

The company will keep the prices of its hot-rolled steel products unchanged, they said.