SHANGHAI, Mar. 16 -- Prices of battery ingredient cadmium in Shanghai rose nearly 9 percent from the end of February on scarce supply, even though demand has yet to pick up, traders said.
Prices of 99.995-percent cadmium ingot rose 8.5 percent to 38,000 to 39,000 yuan ($5,568 to $5,714) per tonne from Feb. 24.
"There is very little supply from Europe, and prices are rising in the international market," a Shanghai-based trader said on Monday, adding that domestic demand remained relatively weak.
Selenium ingot, used to produce electrolytic manganese, was quoted in the range of 770 to 790 yuan per kilogram, up about 20 percent from two months earlier.
"Prices rose too fast in the last two months. Trade is thin as buyers are very cautious about putting in orders," said a Beijing-based trader.
The unclear economic outlook, coupled with worries about domestic inflationary pressure, has injected a large dose of uncertainty into the minor metals market.
"Minor metals may face some downward pressure as people worry about potential policy changes," said minor metals trader based in the southern province of Guangdong.