A Major Plant in East China Successfully Traded 32 mt of Crude Selenium Yesterday [SMM Selenium Report]

[SMM Magnesium Morning Conference Notes: Magnesium Market Under Pressure Amid Tight Raw Material Supply and Sluggish Demand] February 4, cost side, dolomite supply tightened as leading producers in Wutai suspended production, with prices expected to hold up well; ferrosilicon futures dropped slightly, while spot transactions remained neutral, with downstream users mainly making just-in-time procurement. The magnesium ingot market continued its weakness, with offers in Fugu County lowered to 16,400-16,500 yuan/mt, sluggish transactions, and strong wait-and-see sentiment among downstream users. Foreign trade was mainly focused on fulfilling previous orders, with few new orders. The benchmark price of magnesium alloy was under pressure due to declining magnesium ingot prices on the cost side, but processing fees held steady. As the Chinese New Year approached, some end-users began holidays, leading to a slight decrease in orders, with the market maintaining a tight balance. The magnesium powder market remained generally stable, though the center shifted slightly downward due to falling raw material prices. On the demand side, domestic trade involved purchasing as needed, while foreign trade saw limited new orders. Overall, the magnesium industry chain faced partial supply tightness providing support in the short term, but sluggish demand remained the core factor driving price trends, with the market expected to stay in the doldrums.

SMM News on February 4: According to market rumors, a major plant in East China recently conducted a public sales tender for 32 tons of crude selenium, which has attracted considerable market attention. It is reported that the entire batch was successfully sold, though the specific transaction price was not officially disclosed. According to some market participants involved in the bidding, the final actual transaction price was around 185 yuan per kilogram. Market analysts noted that the results of the selenium tender once again set a new recent high, indicating that the upward trend in selenium prices continues unabated. Despite the year-end approaching, buying interest from end-users and speculative buyers in the crude selenium market has not weakened in any way.

[Transaction Information for Molybdenum Concentrates] SMM, February 3: It is reported that a mine in Yunnan auctioned and sold 96 mt of 40% molybdenum concentrates (copper 1–3%) on February 3, with the final transaction price at 4,115 yuan/mtu.