China’s HBIS increases purchase price for January-delivery SiMn by $122/t

Hebei Iron and Steel Group (HBIS), China’s second-largest steelmaker, has increased its purchase price for January-delivery silico-manganese to 7,150 yuan ($1,095) per tonne, market participants told Fastmarkets.

The latest price is 800 yuan per tonne higher than the mill’s purchase price of 6,350 yuan per tonne for December-delivery cargoes.
HBIS’ price, which applies to cargoes delivered to warehouse, includes value-added tax and should be paid on acceptance, according to market sources.

The northern China-based steel mill released its first round bid at 7,100 yuan per tonne on December 29 following the announcement of plans to buy 25,900 tonnes of January-delivery silico-manganese the previous day. But the initial price was rebuffed by major alloy smelters who had aimed for 7,500 yuan per...

Published

Susan Zou

Siyi Liu

January 04, 2021

10:20 GMT

Shanghai