China's HBIS raises purchase price for December-delivery SiMn by $41/t

Hebei Iron and Steel Group (HBIS), China's second-largest steelmaker, has increased its purchase price for December-delivery silico-manganese to 6,350 yuan ($971) per tonne, market participants told Fastmarkets on Thursday December 10.

The latest price is 270 yuan per tonne higher than the mill's purchase price of 6,080 yuan per tonne for November-delivery cargoes.
HBIS' price, which applies to cargoes delivered to warehouse, includes value-added tax and should be paid on acceptance, according to market sources.
The mill announced on December 1 that it would purchase 24,400 tonnes of silico-manganese for delivery in December, up by 1,800 tonnes from the 22,600 tonnes it bought for November-delivery.

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