The previous indium tender, a month earlier, had also been suspended.
CZP is Russia’s largest producer of special high-grade zinc and zinc alloys, and supplies indium as a by-product.
“Usually, when the tender is out, there are more than 10 market participants looking for material,” one of the two bidders, a trader, told Fastmarkets. “But now, demand is poor and it is difficult to generate buying interest.”
“Almost no one attended the tender,” the second bidder said. “Demand is not strong at the moment.”
The tender was suspended beacuse the bids received were far below Fastmarkets’ indium price assessment, sources close to the matter said. A previous tender for a similar volume, which...