SHANGHAI, July. 2 (SMM) -- Transactions of domestic selenium powder prices were extremely sluggish this week, and mainstream traded prices struggled to stand RMB 600/mt. Prices released on MB website slipped slightly to USD 33.9-39/lbs after standing firm for a month. Although prices only slipped limited, the lowered prices deal a heavy blow to market confidence. The lowed overseas prices suggested that domestic prices will continue to fall if downstream consumption remains sluggish.
Offers of selenium dioxide were mixed this week, and traded prices advanced, with widening price spread reported in the market. As electricity prices in Xiangxi region (west Hunnan province) haven't lifted, operating rates at EMM producers in that region increased, increasing demand for selenium dioxide. As supply of goods was dominated by certain cargo-holders and production costs were above RMB 400-430/mt, mainstream traded prices of selenium were between RMB 410-440/kg.
SMM believes that prices of selenium dioxide will still have room to climb further, and prices will move around RMB 450/kg. Prices of selenium powder will stand above RMB 600/kg. If overseas selenium dioxide prices continued to fall, domestic selenium dioxide prices may also follow the decline trend.
It is expected that mainstream traded prices of selenium powder will move between RMB 600-630/mt next week, and traded prices of selenium dioxide will move around RMB 430-460/mt in the following week.
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