SHANGHAI, Jul. 27 (SMM) –
Review: During the past week, China’s mainstream offers for selenium powder remained between RMB 710-760/kg, and mainstream prices of selenium dioxide fluctuated between RMB 500-505/kg since the price has hit cost lines for most producers, leaving them unwilling to sell goods at low prices when prices on LME showed little changes while prices for raw materials remained firm.
Forecast: Downstream EMM markets remained weak with operating rates at enterprises keeping falling, further depressing demand in selenium market. Meanwhile, supply for selenium dioxide was still sufficient. Therefore, SMM expects that prices of selenium dioxide may extend declines to fall below RMB 500/kg, while selenium powder prices are expected to inch down to move at RMB 700/kg in the coming week.