Kunming Rongke wins auction for 3,609 tonnes of Fanya indium stocks

Kunming Rongke New Materials Co won 3,609.5 tonnes of indium formerly held by China’s defunct Fanya Metal Exchange in an auction that ended at 10am Beijing time on Saturday January 18.

As the only bidder at the auction, Kunming Rongke secured the stockpile with a bid of around 2.85 billion yuan ($415.4 million), which works out at a price of 790 yuan per kg, according to the official auction result posted on the Alibaba judicial online platform.
The successful auction comes after an earlier one in late December 2019 failed to attract any bids.

The success of the latest auction...

Published

Amy Lv

January 20, 2020

03:15 GMT

Shanghai