[Minor metal] Lukewarm Transactions in Domestic Selenium Market

SHANGHAI, Oct. 21 (SMM) -- The trading sentiment was lukewarm in domestic selenium market, and selenium prices fluctuated on low levels. Refined selenium was traded at RMB 460-490/kg, while selenium dioxide was traded at RMB 310-320/kg.

    Transactions were limited recently in selenium market. Most traders stopped purchases upon their concerns that refined selenium prices will continue to fall. SMM believes refined selenium prices will likely stabilize after domestic inventories are consumed for 2-3 weeks.

    Refined manganese prices remained low, and environment inspections have been implemented strictly in some regions, and operating rates at refined manganese were about 75%. More and more refined manganese producers planed to halt production upon pessimistic market outlook, and held low interest in purchases as a result. Selenium dioxide prices continued to drop, with current traded prices moving in the RMB 310-315/kg range. SMM believes selenium dioxide prices will likely fluctuate around RMB 300/kg in the near future, with limited downward room.

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