And they were right: the Fanya Metal Exchange has certainly remained centre stage.
As the year kicked off, the ever-rising indium and bismuth stocks on Fanya caused indium and bismuth prices to race up in the first quarter, sparking hopes among producers and traders that the slump in minor metals was over its worst.
By February, some traders were reporting difficulties finding a position in the indium market
, as producers outside China focused on supplying end-users, at a time when supply was already tight.
And in the bismuth market, producers in China chose to hold back from selling in the hope of further price rises.
With bismuth and indium prices on their way up, the announcement in March that the exchange would be adding tellurium
, selenium and antimony
contracts sparked interest and speculation over whether these metals would also fall under the influence of the “Fanya effect”.
While none of...