SMM Weekly Forecast on China's Selenium Market (Jun. 28-Jul. 2)

SHANGHAI, Jun. 25 (SMM) -- Transactions of domestic selenium powder prices were extreamly sluggish this week, and prices continued to fall slightly. Current mainstream traded prices were around RMB 600/kg. Supply of imported selenium was tight, and overseas selenium prices were stable. However, domestic supply is still in surplus. Traded prices of selenium dioxide were relatively mixed, and traded prices between RMB 390-430/mt were also reported in the market. Goods held by traders were limited, and most producers began to show unwillingness to move goods due to current low prices.

SMM believes that producers' unwillingness to move goods may help lift low-end prices, but any room for prices to advance will be limited given that supply is still in surplus.

Prices of imported selenium powder were still firm, and large amount of transactions were not reported in the market. It still takes time for domestic inventories to be consumed, and prices are expected to stay stable.

It is expected that mainstream traded prices of selenium powder will move between RMB 580-620/mt next week, and traded prices of selenium dioxide will be around RMB 400/mt in the following week.

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

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