SMM4 26th News: today, at 9:50, only 10 minutes away from the auction time, Fanya 34.64 tons of finished indium ingot was successfully auctioned by China overseas Economic Cooperation Co., Ltd for 37411200 yuan. The only unit participating in the auction was sold at the opening price (about 1.08 million yuan / ton). According to the official website, China overseas Economic Cooperation Co., Ltd. (CCOEC) was established in 1965 with the approval of the State Council. China General Technology (Group) holding Co., Ltd. (abbreviated as GENERTEC) is a wholly owned subsidiary of China General Technology (Group) holding Co., Ltd., and is one of the earliest key state-owned integrated enterprises engaged in international economic cooperation in China.
At present, the huge conversion pressure of domestic refined indium inventory is a major event that dominates the whole market, which not only hits the confidence of domestic upstream and downstream production and sales enterprises, but also affects the mood of overseas buyers, resulting in export shrinkage. As a result of unruly consumption, a strong bearish atmosphere in the market, and the elimination of producers' enthusiasm for production, in addition to the implementation of long-term customer demand, they are generally cautious in production, and lack of willingness to purchase raw materials, so that crude indium producers fear poor turnover and positive exchange of goods. Although the price followed the decline, but the transaction situation is not good, the domestic trader inventory pressure is not big, the transaction volume is insufficient causes them to raise the interest, wait and see. According to SMM research, the news that the Fanya 34.64 tons of finished indium ingots have been successfully auctioned has calmed the spot market, and concerns about the indium ingot release market have dissipated in the short term, but because Fanya has nearly 3000 tons of stocks, Under the pressure of huge refined indium inventory, SMM believes that the future price of indium is still not optimistic.
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