Fanya indium stockpile sold to Kunming Rongke for $416 mln in China auction
A vast stockpile of the indium
formerly held by China’s Fanya Metal Exchange was sold on
Saturday, in a second attempt, as Kunming Rongke New Materials
bid around $416 million for the hoard.
The fate of the 3,609.46 tonnes of indium – several years’
worth of global supply of the metal used in flat-panel displays
– was being closely watched by minor metals traders and Fanya
creditors seeking to recover their money after the bourse
collapsed in 2015.
Kunming
formerly held by China’s Fanya Metal Exchange was sold on
Saturday, in a second attempt, as Kunming Rongke New Materials
bid around $416 million for the hoard.
The fate of the 3,609.46 tonnes of indium – several years’
worth of global supply of the metal used in flat-panel displays
– was being closely watched by minor metals traders and Fanya
creditors seeking to recover their money after the bourse
collapsed in 2015.
Kunming
Posted by Reuters
