[Minor metal] SMM Forecast - Domestic Selenium Market

SHANGHAI, Sept. 25 (SMM) -- Domestic prices for selenium powder continued to slip negatively affected by falling prices for selenium dioxide, with mainstream traded prices in the RMB 490-520/kg range. Selenium powder price trends will depend on the price trends of refined manganese and selenium dioxide.

    As the refined manganese prices continued to drop, manganese factories had higher interest in suspending and cutting production, resulting in lower purchasing sentiment for selenium dioxide. In this context, large suppliers reported limited cargo movements. Traded prices will fall to RMB 370/kg during weekend, and selenium dioxide prices will find support at RMB 350/kg before the holiday.

    SMM believes refined manganese market will remain weak, and operating rates at manganese factories will drop, and domestic demand for selenium dioxide and selenium powder will decrease as well. Selenium powder and selenium dioxide markets will not likely rebound, and selenium powder prices will likely fall to the range of RMB 400-450/kg, and selenium dioxide prices will move in the RMB 250-350/kg range during 4Q.

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