MINOR METALS-Prices down in China on Demand Concerns-Shanghai Metals Market

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MINOR METALS-Prices down in China on Demand Concerns

Industry News 02:11:37PM Jun 11, 2010 Source:SMM

SHANGHAI, June 11 -- Prices of most minor metals fell from late May in Shanghai on worries about the demand outlook both in China and the export market, especially Europe, traders and analysts said on Thursday.

Prices of antimony, used in fireproof paint, fell more than 10 percent from May 20 to 55,500 yuan ($8,128) to 56,500 yuan a tonne. Antimony in London was last quoted at $8,700 a tonne, down 9 percent from a peak of $9,550 in early May.

"The price bubble caused by speculation has burst. In addition, some producers have returned to production," said an analyst of Asian Metal based in Beijing.

"Prices aren't very bullish looking forward because demand is not strong due to lukewarm performance in the related downstream industries, namely chemical and autoindustries."

Indium prices in Shanghai fell nearly 6 percent to 3,380 to 3,450 yuan a kilogram, as prices in London fell 2 percent to $587.5 a kilogram.

"Exports of indium, as well as bismuth and germanium, have been slow. Traders who bought the metals when prices were higher earlier are now selling out," said a Shanghai-based trader.

China is the world's largest producer of indium, used to make liquid crystal display screens for television and computers. But some said demand from Japan remains strong.

"Japan is obviously buying a lot. We are seeing much more demand compared to last year. Prices have been falling as a response to an earlier strong rally," said an executive at an indium producer in the southern province of Guangxi.

He added that some investors who bought indium around 2,500 yuan are now selling around the level of 3,500 to 3,600 yuan.

 

Key Words:  minor metal  minor metal price 

MINOR METALS-Prices down in China on Demand Concerns

Industry News 02:11:37PM Jun 11, 2010 Source:SMM

SHANGHAI, June 11 -- Prices of most minor metals fell from late May in Shanghai on worries about the demand outlook both in China and the export market, especially Europe, traders and analysts said on Thursday.

Prices of antimony, used in fireproof paint, fell more than 10 percent from May 20 to 55,500 yuan ($8,128) to 56,500 yuan a tonne. Antimony in London was last quoted at $8,700 a tonne, down 9 percent from a peak of $9,550 in early May.

"The price bubble caused by speculation has burst. In addition, some producers have returned to production," said an analyst of Asian Metal based in Beijing.

"Prices aren't very bullish looking forward because demand is not strong due to lukewarm performance in the related downstream industries, namely chemical and autoindustries."

Indium prices in Shanghai fell nearly 6 percent to 3,380 to 3,450 yuan a kilogram, as prices in London fell 2 percent to $587.5 a kilogram.

"Exports of indium, as well as bismuth and germanium, have been slow. Traders who bought the metals when prices were higher earlier are now selling out," said a Shanghai-based trader.

China is the world's largest producer of indium, used to make liquid crystal display screens for television and computers. But some said demand from Japan remains strong.

"Japan is obviously buying a lot. We are seeing much more demand compared to last year. Prices have been falling as a response to an earlier strong rally," said an executive at an indium producer in the southern province of Guangxi.

He added that some investors who bought indium around 2,500 yuan are now selling around the level of 3,500 to 3,600 yuan.

 

Key Words:  minor metal  minor metal price