HOTLINE: Who needs consumers when you have Fanya?

The minor metals market entered “the era of electronic trading” this week, as China’s Fanya Exchange announced plans to launch two new spot contracts for bismuth and gallium.

A test-run tender for 40 tonnes of bismuth and 4 tonnes of gallium on February 6 sold out “within seconds”, the exchange said, further raising expectations among producers that private investors in China will be there to prop up prices, even if end-users are not.

As one producer said this week, he is looking forward to “private hot money meeting illiquid...


February 07, 2013

17:35 GMT