Hebei Steel slashes July silico-manganese tender price by $127/t

Hebei Steel, China’s second-largest steel mill, has finalized its purchase price for July-delivery silico-manganese at 6,500 yuan ($920) per tonne, market participants told Fastmarkets on Thursday July 2.

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...


Amy Lv

July 02, 2020

15:25 GMT