Export duty reduction in China not stirring the indium market
2009-06-25 08:53:21 【Print】
BEIJING (Asian Metal) 25 Jun 09 – The Chinese government released to reduce the indium metal export duty to 5% early this week, but participants believe that the policy change will not influence the market greatly.
“The indium metal market keeps relatively stable after the Chinese government cuts down the indium export duty,” said a major European trader.
According to the source, Chinese indium smelters insisted on offering USD310-320/kg, unchanged from the prices before the policy change, while end-users only accept the prices around USD270-280/kg.
Therefore, the source revealed that the export duty does not help increase the conclusions in the market. The indium metal market is likely to keep moving stably in the coming weeks.
Many Chinese qualified indium exporters shared the same opinion that the indium metal market does not change sharply after the government reduces the export duty.
“Some participants had expected that the export price of indium metal would go down after the export duty reduction, but it is impossible, since the domestic indium metal price increased from early this month,” said one of these qualified exporters.
The source puts the price of indium 99.99%min at around USD310/kg after the policy change, stable at that last week. “We mainly sell indium metal to the domestic investors who have abundant capitals to invest on the material,” said the source, putting the refined indium price keeps steady at around RMB2,000-2,150/kg.
“The indium metal market is likely to keep stable in the coming weeks, with few suppliers able to accept lower prices,” concluded the source.
