The mill has offered to buy silico-manganese at 7,850 yuan ($1,169) per tonne for April delivery. The price includes delivery costs and payment through an acceptance draft, according to market sources in China.
The latest tender is about 70 yuan higher than the mill’s March purchase price of 7,780 yuan per tonne, representing a 0.9% month-on-month increase.
Hebei Steel’s is looking to purchase 24,000 tonnes in April, down 4,500 tonnes from March’s 28,500 tonnes.
Typical monthly volumes are usually around 28,000 tonnes.