Guangxi Indium Metal Exchange Center, established on May 9, aims to be a price benchmark for indium metal, said China Nonferrous Metals Industry Association on its website.
A new exchange for trading indium was established on May 9 in the Liuzhou city in Guangxi province of China. The new exchange has a mission to form a uniform price for indium and protect the rare resources, the CNMIA site said.
Liuzhou China Tin Group, Guangxi Intai Technology, Liuzhou Indium Germanium Metals, and Guangxi Tanghan Zinc & Indium initiated the move to establish the exchange, and has received support of the Liezhou city government, according to the CNMIA website.
Among the four companies, the first three are globally-known indium producers with annual output capacity of 30-50 mt/year. They actively export indium, and have been granted export licenses by the Chinese Ministry of Commerce on June 1.
Guangxi Tanghan Zinc & Indium, with no export license, was established in May 2000 and is based in the Nandan area of Guangxi.
A Chinese trader said the current exchange membership is five or more, composed of Guangxi-based producers, but this was not confirmed with the exchange.
China has rich indium reserves outside the Guangxi province. The Hunan and Yunnan provinces have indium deposits, and there are secondary indium plants in operation in the city of Nanjing. Of the 18 companies that have been granted export licenses, and therefore have been recognized by the Chinese government as active indium market participants, 13 are based outside the Guangxi province. Indium producers located outside Guangxi are not members of the exchange yet.
Industry sources at Yunnan and Nanjing contacted by Platts said they have been aware of the exchange establishment, but they are not able to participate directly as they do not have business bases in the Liuzhou city. Some even believed that the exchange participation is actually limited to companies in Guangxi.
Chinese sources all agreed that initiatives to set prices by the Guangxi-based producers would have limited impact in the prices as they would not represent the whole market.
One Chinese trader, however, said: "Maybe this could be an important effect in the future, if the Chinese government uses it to buy indium metal and then set up national stockpile like Japan. A Beijing official mentioned this possibility in Liuzhou when he took part into the opening ceremony."
The indium traded at the exchange are 99.99% and 99.999% purity indium ingot, according to the Chinese trader. – Platts
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