China's largest steel mill, Hebei Steel, has cut its monthly purchase price for silico-manganese, reversing the rise seen in last month's tender.
The mill has offered to buy silico-manganese at 8,950 yuan ($1,296.81) per tonne for December delivery. The price includes delivery costs and payment through an acceptance draft, according to market sources in China. The latest tender is about 150 yuan lower than the mill's November purchase price of 9,100 yuan per tonne, representing a 1.65% month-on-month decrease. Hebei Steel's purchase volume for December is also much lower at 10,000 tonnes, compared to November's 31,970 tonnes. Typical monthly volumes are usually around 28,000 tonnes. According to market participants, the...