REFILE-China Baosteel cuts Jan steel prices -sources

(Corrects date in dateline to Nov. 26)

SHANGHAI, Nov 26 (Reuters) - China's Baoshan Iron and Steel Co Ltd (600019.SS) (Baosteel) will cut its sales price for major hot-rolled steel products for January 2009 by 500 yuan ($73.22) per tonne compared with the December prices, trade sources said on Wednesday.

Baosteel, the listed unit of the country's largest steel maker, had lowered its offer prices three times during the fourth quarter this year, as the domestic demand outlook weakened.

Detailed price offers for January are expected to be released on Thursday, the sources added.

Baosteel's hot-rolled steel price was at 2,942 yuan a tonne for December, while its December cold-rolled steel price was at 3,526 yuan per tonne, industry sources have said. Both figures exclude a 17 percent value-added tax.

China Steel Corp (2002.TW), Taiwan's top steel maker, said on Wednesday it would cut domestic prices of steel products in the first quarter as it slashes output next year due to weakening demand during the global downturn. ($1=6.829 Yuan) (Reporting by Alfred Cang; Editing by Edmund Klamann)