BAOSHAN Iron and Steel Co kept the prices of most products for December delivery unchanged, it announced on its trading website yesterday, despite an increase in spot market prices.

This is the second consecutive month that Baosteel, China's largest listed mill, has left prices basically unchanged for its hot-rolled and cold-rolled products.

Analysts said the move shows the company remains cautious about market outlook. Domestic spot steel prices gained in recent days amid a rally in global commodity markets and also after China curbed power supplies to some mills to meet energy-efficient targets.