The latest price is 900 yuan per tonne or 12.2% lower than the purchase price of 7,400 yuan per tonne for June-delivery cargoes
Hebei Steel announced on Tuesday June 30 it would purchase 27,780 tonnes of July-delivery silico-manganese, an increase of 780 tonnes from the 27,000 tonnes it bought for June-delivery cargoes.
The company opened its first round of bidding at 6,400 yuan per tonne on July 1 before finalizing it at 6,500 yuan per tonne on Thursday.
The finalized price was a bit lower than the previous market expectations of around 6,600-6,800 yuan per tonne, sources said. Although before the announcement of the result, most market participants had already expected an evident fall in this round of tender prices amid falling...