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Selenium surges on desperate spot trade

February 07, 2011 - 00:00 GMT

Bidding up the market - Minor metal at record highs; $60 per lb within its sights

Selenium prices shot up to new all-time highs at $50-56 per lb on February 2, from $46-52 per lb previously, as consumers bid up the spot market in search of prompt material. Producers received bids from selenium consumers that approached $60 per lb, but in most cases material was not immediately available to satisfy this demand. “I’ve received some extremely high bids but all our material is already locked up so I can’t really support the spot market,” one producer told MB. It is not possible to secure...

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