Chinese bismuth ingot export offers go up further
2014-01-15 08:49:16 [Print]
BEIJING (Asian Metal) 15 Jan 14 - The mainstream transaction prices for bismuth ingot in China rose by around RMB500/t (USD0.03/lb) further to RMB123,000-124,500/t (USD9.25-9.35/lb) on Monday and some suppliers held offers firm at RMB125,000/t (USD9.40/lb) or higher. Most suppliers are holding back from selling materials. Under the increasing domestic price and RMB appreciation against US dollars, the export offers for bismuth ingot increase from USD9.0-9.2/lb FOB China early last week to USD9.2-9.4/lb FOB China now.
A supplier in China, with a regular output of around 50tpm for bismuth ingot, reported that they sealed deals for bismuth ingot at RMB124,000/t (USD9.31/lb) on Monday, which increased sharply by around RMB1,500/t (USD0.11/lb) against the price of RMB122,500/t (USD9.21/lb) in early last week. The source claimed that they raise offers for bismuth ingot to RMB125,000/t (USD9.40/lb) now. In the export market, the source claimed that they raise offers to USD9.4/lb FOB China now due to domestic price rise and RMB appreciation against US dollars, with no deals being concluded yet.
The source noted that the stocks of bismuth ingot in some Asian exchanges keep increasing and most suppliers show weak desire in selling materials now. Thus, Chinese bismuth ingot prices increased continuously recently. The bismuth ingot export market does not see many new orders further into January as expected, but they will hold the export offers firm.
A major bismuth ingot trader in China reported that they purchased some bismuth ingot at RMB124,000/t (USD9.33/lb) on Monday, up further against the RMB122,000-123,000/t (USD9.18-9.25/lb) in last week. In the export market, their last deal was sealed at USD9.3/lb FOB China in early January and do not intend to accept new orders on the spot market now as the supply for bismuth ingot on the spot market is tight and it is hard to purchase the materials in large quantities. The source added that some suppliers raise the export offers to USD9.4-9.5/lb FOB China now.
“Many bismuth ingot suppliers in China have sold some stocks for cash back in December and I do not think many suppliers will sell large inventories before the Spring Festival holiday. Moreover, the stocks of bismuth ingot in some exchanges keep increasing. I think Chinese bismuth ingot prices will keep increasing in the near future,” noted the source.
A supplier in China, with a regular output of around 50tpm for bismuth ingot, reported that they sealed deals for bismuth ingot at RMB124,000/t (USD9.31/lb) on Monday, which increased sharply by around RMB1,500/t (USD0.11/lb) against the price of RMB122,500/t (USD9.21/lb) in early last week. The source claimed that they raise offers for bismuth ingot to RMB125,000/t (USD9.40/lb) now. In the export market, the source claimed that they raise offers to USD9.4/lb FOB China now due to domestic price rise and RMB appreciation against US dollars, with no deals being concluded yet.
The source noted that the stocks of bismuth ingot in some Asian exchanges keep increasing and most suppliers show weak desire in selling materials now. Thus, Chinese bismuth ingot prices increased continuously recently. The bismuth ingot export market does not see many new orders further into January as expected, but they will hold the export offers firm.
A major bismuth ingot trader in China reported that they purchased some bismuth ingot at RMB124,000/t (USD9.33/lb) on Monday, up further against the RMB122,000-123,000/t (USD9.18-9.25/lb) in last week. In the export market, their last deal was sealed at USD9.3/lb FOB China in early January and do not intend to accept new orders on the spot market now as the supply for bismuth ingot on the spot market is tight and it is hard to purchase the materials in large quantities. The source added that some suppliers raise the export offers to USD9.4-9.5/lb FOB China now.
“Many bismuth ingot suppliers in China have sold some stocks for cash back in December and I do not think many suppliers will sell large inventories before the Spring Festival holiday. Moreover, the stocks of bismuth ingot in some exchanges keep increasing. I think Chinese bismuth ingot prices will keep increasing in the near future,” noted the source.
Bismuth Ingot 99.99%min Delivered US
Unit:USD/lb
China bismuth ingot producers' inventory to production ratio statistics by province by month
Unit: %
