Chinese indium market participants retreat on announcement of second Fanya auction

The Chinese domestic indium price dropped by 4% week on week on Wednesday April 17 in response to news that the Fanya Metal Exchange will again auction 34.64 tonnes of the indium stock it holds in its warehouse, 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, according to an official announcement on Tuesday. The starting price of this new lot is 1,080 yuan ($160) per kg, excluding value-added tax (VAT) and storage costs. Fastmarkets’ latest assessment for Chinese domestic 99.99% indium was at 1,200-1,230 yuan per kg on Wednesday, its lowest level since September 2017. The price was down 50 yuan or 4% from 1,250-1,280 yuan per kg previously....

Published

Amy Lv

April 18, 2019

10:53 GMT

Shanghai