Hebei Iron & Steel Group (HBIS), China’s second-largest steelmaker, increased its purchase price for August-delivery silico-manganese to 7,950 yuan ($1,226) per tonne, the company said on Tuesday August 10.
The latest price is 450 yuan higher than the mill’s previous purchase price of 7,500 yuan per tonne for July-delivery cargoes.
HBIS’ price, which applies to cargoes delivered to warehouses, includes value-added tax and should be paid on acceptance.
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