Market participants say they expect mercury prices to remain elevated after over two thirds of signatories ratified the Minamata Convention, which came into force on August 16, 2017.
Metal Bulletin assessed mercury prices at $2,700-3,000 per flask on an in-warehouse basis on Friday March 11, down from $2,500-3,450 per flask two weeks ago but still 54% higher than at the start of the year. Mercury prices have been moving higher since the end of last year because its production and usage has shrunk after the enforcement of the Minamata Convention, which bans new mercury mining among other restrictions. "Prices are likely to stay at higher levels, as there is a severe shortage of supply," a trader said. "Those who have material will try to sell at very high prices and people who need it will continue paying at those steep levels." "I...