Silico-manganese prices stabilise as market awaits tender results

SHANGHAI, Feb 28 (SMM) – Spot prices of silico-manganese alloy held firm on the morning of February 28, as the market awaited the results of March’s tenders by China's biggest steelmaker Hebei Iron and Steel Group (HBIS Group). 

This came after bearish sentiment weakened prices by some 150 yuan/mt on the previous morning. 

On the morning of February 28, #6517 silico-manganese alloy in Inner Mongolia was mostly offered at 7,650 yuan/mt ex-works on acceptance, changed little from February 27. 

On February 27, HBIS Group launched its fresh round of tenders for March, with purchasing volume of silico-manganese alloy up 5,500 mt month on month to 28,500 mt, SMM learned. 

Some other steelmakers in the north also started March’s tenders with higher purchasing volumes.