Hebei Steel cuts silico-manganese price by $17/t for December, bearish sentiment prevails

Hebei Steel, China’s second largest steel mill, released its purchase price for silico-manganese at 5,950 yuan ($844) per tonne for December delivery, down by 150 yuan per tonne from its November tender price, market sources told Fastmarkets on Wednesday December 4.

The decrease in the tender price for silico-manganese from Hebei Steel comes after the mill slashed its purchase price for November-delivery cargoes by 1,200 yuan per tonne.

The tender result - which was in line with the expectations of some market participants - is an inevitable result of an abundance of supply as well as falling prices in both the spot and futures markets, and will further squeeze the already thin profit margins of Chinese alloy smelters,...

Published

Amy Lv

December 04, 2019

12:15 GMT

Shanghai