SHANGHAI, Jan. 22 (SMM) --
Since tight supply of selenium powder didn't ease, price of selenium powder rose sharply this week, with mainstream traded prices climbing to RMB 620/kg. Suppliers were reluctant to move goods, tightening market supply. Prices of selenium dioxide rose to RMB 450-455/kg along with rising prices of selenium powder at the beginning of this week. However, as prices of EMM declined, buying was not brisk. Prices of selenium dioxide lacked upward momentum due to low purchase interest from downstream purchasers, and prices still fluctuated around RMB 450-460/kg at the end of this week.
SMM believes tight supply of selenium powder will not ease in the short term. Suppliers will reluctant to move goods, and downstream purchasers will adopt a wait-and-see attitude as they are unwilling to make purchase when prices are at high levels. Actually, the market only has high prices but without transactions. Both traders and selenium dioxide producers are busy seeking selenium powder in the market. Although consumption in end market is not brisk, prices of selenium powder will still on upward track as supply is tight in the market.
Since EMM prices decline and purchasing interest is not high at EMM producers, and rising room for EMM prices will be limited. It is expected that prices of selenium powder are expected to be traded above RMB 650/kg, and prices of selenium dioxide will move in the RMB 460-480/kg range next week.
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