Baoshan Iron and Steel Co Ltd (Baosteel) has cut its sales prices for cold-rolled steel products for December by a further 970 yuan ($142) per tonne, trade sources said on Thursday.

Baosteel, the listed unit of China"s largest steel maker, had already lowered its offer prices twice since it released its fourth-quarter base sales prices, as the demand outlook weakened in China. The move, mirroring China"s sluggish steel market, marks the first time the company has adjusted its monthly price.