China's largest steel mill, Hebei Steel, has cut its monthly purchase price for silico-manganese for the third consecutive time amid lower spot prices.
The mill has offered to buy silico-manganese at 7,780 yuan ($1,160) per tonne for March delivery. The price includes delivery costs and payment through an acceptance draft, according to market sources in China. The latest tender is about 120 yuan lower than the mill's February purchase price of 7,900 yuan per tonne, representing a 1.5% month-on-month fall. Hebei Steel plans to purchase 28,500 tonnes in March, a drop of 1,500 tonnes compared with February's...