Second Fanya auction to release more than 30 tonnes of indium stocks; price 'too high' for market participants

The Fanya Exchange will auction 34.64 tonnes of the indium stock it holds in its warehouse on April 24, after the first auction in January failed to attract any bidders.

The stock will be auctioned via Alibaba judicial online platform at 10am Beijing time on April 24 and 10am Beijing time on April 25.
The starting price of this new lot is 1,080 yuan ($160) per kg, excluding VAT and storage costs. This price did not seem appealing to the market participants polled by Fastmarkets.

“When adding the VAT and the delivery costs, this is even higher than the market price,” one Chinese trader said. “Plus, it is only 10% lower than the first auction which it is a...

Published

Cristina Belda

April 16, 2019

14:32 GMT

London