HBIS raises purchase price for May-delivery silico-manganese by $70

Hebei Iron and Steel Group (HBIS) - China's second-largest steelmaker - has raised its purchase price for May-delivery silico-manganese to 7,250 yuan ($1,124.47) per tonne, market participants told Fastmarkets on Thursday May 13.

The latest price is 450 yuan higher than the mill's previous purchase price of 6,800 yuan per tonne for April-delivery cargoes.
HBIS' price, which applies to cargoes delivered to warehouse, includes value-added tax and should be paid on acceptance, market sources said.

The northern China-based steel mill released its first-round bid at 7,100 yuan per tonne on Tuesday and plans to buy around...

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