The mill has offered to buy silico-manganese at 8,250 yuan ($1,220.14) per tonne for January delivery. The price includes delivery costs and payment through an acceptance draft, according to market sources in China.
The latest tender is about 700 yuan lower than the mill’s December purchase price of 8,950 yuan per tonne, representing a 7.8% month-on-month dive.
Hebei Steel’s purchase volume for January is 26,000 tonnes, a rise of 160% compared with December’s 10,000 tonnes.
Typical monthly volumes purchased by...