Hebei Steel slashes March SiMn tender price by $187/t

Hebei Steel, China’s second-largest steel mill, has set its purchase price for silico-manganese for March delivery at 5,900 yuan ($848) per tonne, market participants told Fastmarkets on Thursday March 12.

This marks a decrease of 1,300 yuan per tonne, or 18.1%, from the mill’s February tender price of 7,200 yuan per tonne and comes at a time of reduced demand for the alloy from mills and an abundance of the material in the market, participants said.
The price from Hebei Steel, which is for cargoes delivered to warehouse, includes value-added tax and should be paid on acceptance, according to market sources.

On Tuesday, Hebei Steel announced it would purchase 19,680 tonnes of silico-manganese for delivery in March, 6,320 tonnes lower than the volume it purchased for delivery the prior month. The following day, the mill opened the first round of...

Published

Amy Lv

March 12, 2020

09:20 GMT

Shanghai