Selenium jumps to all-time high on desperate spot trade 02 February 2011
Selenium prices shot up to new all-time highs at $50-56 per lb on Wednesday, from $46-52 per lb previously, as consumers bid up the spot market in search of prompt material. Producers received bids from selenium consumers that approached $60 per lb, but in most cases material was not immediately available to satisfy this demand. Ive received some extremely high bids but all our material is already locked up so I can't really support the spot market, one producer told MB. Selenium touched an all-time high of $52 per lb on Friday, a price not seen since September 2005, and market participants said prices are likely to head higher still as supply conditions tighten. Traders, producers and consumers all reported extremely tight availability, but...
HMC Price at posting:
6.2¢ Sentiment: Buy Disclosure: Held
