China's Hebei Steel, the country's second largest steel mill, has released its purchase price for silico-manganese at 7,700 yuan ($1,078) per tonne for September delivery, down by 150 yuan per tonne from its August tender price, market sources told Fastmarkets.
The Friday September 6 announcement for the September tender price for silico-manganese came much later than expected. The tender result is usually released in the last week of the preceding month. Early on Monday, Hebei Steel announced it intended to purchase 28,730 tonnes of silico-manganese at the price of 7,650 yuan per tonne. The purchasing volume was 880 tonnes lower than that for August. Alloy smelters in China were reluctant to accept the price and Hebei Steel raised its bidding price to 7,700 yuan per tonne on Friday. The 150-yuan per tonne monthly drop in the tender...