Baoshan Iron and Steel Co Ltd (Baosteel) has cut prices for major hot-rolled and cold-rolled steel products for April by 200 yuan ($29.23) per ton from March levels, industry website Mysteel said on Tuesday.

The price cut is equivalent to 4.7 percent on cold-rolled steel and 5.3 percent on hot-rolled products, according to a media calculation.

After the decrease, prices for hot-rolled steel products will be 3,542 yuan per ton and prices for cold-rolled steel products will be 4,026 yuan per ton, Mysteel said.