Hebei Steel, China's second-largest steel mill, has finalized its purchase price for September-delivery silico-manganese at 6,330 yuan ($925) per tonne, market participants told Fastmarkets on Thursday September 10.
The latest price is 130 yuan per tonne higher than the purchase price of
6,200 yuan per tonne for August-delivery cargoes.
The price from Hebei Steel, which is for cargoes delivered to warehouse, includes value-added tax and should be paid on acceptance, according to market sources.
Hebei Steel announced on September 1 that it would purchase 24,600 tonnes of September-delivery silico-manganese, down by 2,120 tonnes from 26,720 tonnes it bought for August-delivery.
The following day, it released its first round bid of 6,200 yuan per tonne, and intended to finalize the tender at 6,300 yuan per tonne on September 4.
But some Chinese alloy smelters in northern China's Inner Mongolia showed intense reluctance...