SHANGHAI, Jun 8 (SMM) – Trading in the indium spot market in China was lacklustre during the week ended Friday June 7 as a declining market kept buyers and sellers on the sidelines, SMM learned.
SMM assessed prices of refined indium at 1,730-1,780 yuan/kg as of June 8, flat from a week ago. Offers in the international market were heard at $270-300/kg, down $25/kg week on week. Exporters told SMM that they received fewer price inquiries over the week, suggesting a sluggish purchasing sentiment in the international market.
Suppliers of crude indium kept offers at 1,600 yuan/kg this week. Given cash flow and liquidity issues at the end of the first half of the year, refiners remained bearish and were keen to stockpile after receiving orders. Downstream consumers were also less inclined to purchase and depleted current inventory on cash woes. Some speculative traders also held back from aggressively lowering prices on worries that it would be hard to fill the price gap when stockpiling.
We expect the indium market to continue its weak performance in the short term.
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