Fanya indium auction fails to attract bids

An auction for 3,609.5 tonnes of indium once held by China’s defunct Fanya Metal Exchange has failed to attract any bids, according to an official notice published via the Alibaba judicial online platform on Monday December 30.

The auction, which had an opening bid of 790 yuan ($113) per kg, closed at 10am Shanghai time on Monday.
Market participants were surprised that the indium stockpile, which represents roughly five or six years’ worth of global supply, failed to find a home.
“The auction result is beyond my expectation. I thought the indium would be auctioned off this time given the low starting price,” a Chinese trader source said on Monday.

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Published

Ruby Liu

December 30, 2019

09:45 GMT

Shanghai