Lower overseas offers reduce domestic prices of selenium powder

SHANGHAI, Feb 2 (SMM) – Domestic prices of selenium products maintained mostly stable this week with prices of selenium powder falling slightly, dragged by lower prices overseas. Consumption in domestic markets was close to stagnant over the last week ahead of Chinese New Year. 

SMM assessed selenium powder at 175-215 yuan/kg as of Friday February 1, down 5 yuan/kg from a week earlier. Sluggish demand in the international market weighed offers of selenium powder by an average $0.65/lb on the week to $9.8-11.5/lb as of February 1. This was down some $5.2/lb from a high at the start of October. 

Trades of selenium dioxide halted this week as shipment of the compound, as dangerous cargo, was strictly controlled ahead of holiday. Downstream manganese plants with production schedule during CNY finished stockpiling selenium dioxide a week earlier, SMM learned. 

Prices of selenium dioxide stood at 116-122 yuan/kg for the week ended Friday February 1, flat from a week ago.  

Similarly, prices of crude selenium barely changed this week at 135-145 yuan/kg. Suspension of logistics and breaks across downstream copper producers lowered trades. 

SMM sees prices of selenium products hovering weakly at current levels before the market fully recovers after CNY.