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Weekly Review and Forecast on Selenium Market
Feb 5,2010 17:22CST
smm insight
Source:SMM

SHANGHAI, Feb. 5 --

Review

Although trading sentiment was sluggish in domestic selenium powder market, prices of selenium powder were firm due to increased importing costs caused by tight supply from Europe and the US as well as from Japan. Recent traded prices of imported selenium powder were in the USD 32-34/lbs range and importing costs were RMB 575,000-610,000/mt range. Suppliers with goods on hand were reluctant to move goods, and mainstream traded prices were at USD 650,000/mt range.

This week, trading sentiment was sluggish in domestic selenium dioxide market, and prices remained stable in the RMB 450-455/mt range. More and more stainless steel mills halted production and buying interest from traders was low. EMM prices fell in the RMB 14,700-14,900/mt range and trading sentiment was sluggish in the EMM market. Purchasing volumes of selenium dioxide was reducing and consumers adopted a wait-and-see attitude. Sine prices of raw materials is climbing, suppliers were reluctant to move goods. In this context, prices remained stable due to stagnant market sentiment.

Forecast

More and more selenium suppliers will halt production and be off on holiday gradually next week. However, around 60% EMM producers will keep on production during the Chinese New Year Holiday, so there will still have a few transactions of selenium dioxide next week, and prices of selenium dioxide will be around RMB 460/kg. Prices of selenium powder will fluctuate at current levels, with mainstream traded prices at RMB 650/kg.

Prices are expected to climb stably, in view of costs as well as supply and demand based on current market conditions.

To contact the writer on this report: fergiewang@smm.cn

 

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