China Hebei Steel’s monthly purchase price for SiMn up nearly 4% for July

China’s Hebei Steel raised its purchase price for silico-manganese alloys to 7,900 yuan ($1,150) per tonne for July delivery, up 3.9% from 7,600 yuan per tonne for June, market sources told Fastmarkets.

China’s second largest steel mill’s monthly purchase price hike was mostly in accordance with market expectations amid the strong momentum in spot silico-manganese prices in June, while some alloys smelters made aggressive offers as high as 8,100 yuan per tonne last week, market sources said. Fastmarkets’ assessment of the price for Chinese silico-manganese, ex-works was 7,450-7,550 yuan per tonne on Friday June 28, up 6.4% from 7,000-7,100 yuan per tonne in mid-May - before which the alloy’s price had dropped from the 2019 high at 7,500-7,700...

Published

Susan Zou

July 03, 2019

12:36 GMT

Shanghai