HBIS lowers purchase price for July-delivery silico-manganese by $46/t

Hebei Iron & Steel Group (HBIS), China's second-largest steelmaker, lowered its purchase price for July-delivery silico-manganese to 7,500 yuan ($1,157) per tonne, the company said on Monday July 12.

The latest price is 300 yuan lower than the mill's previous purchase price of 7,800 yuan per tonne for June-delivery cargoes.
HBIS' price, which applies to cargoes delivered to warehouses, includes value-added tax and should be paid on acceptance.

The northern China based steel mill released its first-round bid at 7,500 yuan per tonne on July 9 and plans to buy around 25,130 tonnes of July-delivery silico-manganese, down by 3,970 tonnes from June.
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