Selenium dealers holding on stocks

BEIJING (Asian Metal) 4 Aug 06 – Opinions on selenium said the market would quiet down this holiday season and keep moving up again after the holiday because participants are expecting more buying in September and the price might set to around USD25-26/lb. 
 
“Selenium market is very strong and the price is going up week on week.,”said an Indian trader. “Most traders are buying now in the local market at the price of around RUP2500/kg(USD24.4/lb) with 10% basic duties, and I think the price will stay high.Asian Metal CopyrightAnother Indian trader said selenium is rather stable with local producers offering at high prices.Asian Metal Copyright “
 
Supply is tight from the international market and Indian suppliers are quoting very high reflecting the tight supply all over the world, and sources in India believe it will take time for the market to get well fed with material, so some of them holding stock at hand are waiting to cash in on high price.
 
Another Indian trader said selenium is rather stable with local producers offering at high prices. “In the local market the price is around RUP2500/kg(USD24.4/lb) all duties paid,” said the source.Asian Metal Copyright “Supply is tight from the international market and Indian suppliers are quoting very high reflecting the tight supply all over the world, and sources in India believe it will take time for the market to get well fed with material, so some of them holding stock at hand are waiting to cash in on high price.Asian Metal Copyright “the two main producers of selenium in India can not satisfy the local consumption now.”
 
The source said he is holding stock of few Kilos waiting for the price to hit its high level before he will sell as they all believe the price is going to touch USD25-26/lb.