China’s selenium market steady as participants stay on sidelines

SHANGHAI, Apr 30 (SMM) – The selenium market in China was steady over the week ended Friday April 27 as market participants took a watch-and-wait approach amid thin trading.

SMM assessed selenium powder at 300-320 yuan/kg as of Friday, flat from levels seen a week ago. Offers in the international market stood at $23.5-25/lb, with the upper end $1/lb lower from the previous week.

Both sellers and buyers were inclined to postpone negotiation till this week when the value-added tax (VAT) cut takes effect on May 1.

SMM assessed selenium dioxide at 175-180 yuan/kg, unchanged from the previous Friday. Sellers grew confident of support from the rising manganese market, but we see no firm upward momentum as supply continues to exceed demand. Buy tenders from a few manganese producers were also concluded at prices unchanged.

SMM assessed crude selenium also unchanged at 210-220 yuan/kg as of Friday with lacklustre trading. Copper producers were reluctant to sell crude selenium as the VAT cut approaches, while buyers were in no rush either as prices of selenium powder and selenium dioxide remained steady.

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