“There are usually two reasons for selenium prices to go up or down – a change in demand from either India or China. And both Chinese and Indian markets are hot right now,” a market participant said.
Metal Bulletin’s selenium price rose to $18-19.5 per lb in the midweek assessment on Wednesday January 17, an increase of 2.7% from previously, and stayed steady during the latest assessment on Friday.
Robust demand, mainly from India, has supported the move higher, market participants said. Offers for selenium were heard above the current range during Friday’s pricing session.
“All of Indian domestic material has been used up and big European guys have been shifting their material to Asia, predominately India,” a trader said.
Robust demand from...