Spot indium prices in the east Chinese market fell 3 percent on the week, despite China's drive to raise government metal stockpiles by buying indium for the first time ever. China's State Reserves Bureau bought 30 tonnes of indium, used in making LCD screens, from a large Chinese smelter last Wednesday.
Indium prices were down 50 yuan on the week on Friday ranging between 1,850 yuan and 1,950 yuan ($271-$285). "It seems that the state reserve purchase had no impact on the market. Indium trade is still weak on limited demand," said analyst Wang Wei at Shanghai Nonferrous Metals Industry Association. Chinese manganese prices fell by as much as 6 percent from the previous week after a upside correction over the previous two weeks. "The weakness in consumption has also capped gains in manganese prices," Wang said.