Chinese bismuth ingot prices increase
2014-02-12 17:31:08 [Print]
BEIJING (Asian Metal) 12 Feb 14 - Chinese bismuth ingot prices increased to RMB125,000-126,500/t (USD9.39-9.50/lb) in mid-January. After the Spring Festival holiday (January 31st to February 6th), the prices go up further to RMB126,000-127,500/t (USD9.46-9.58/lb) currently and some transaction prices reach RMB128,000/t (USD9.61/lb).
A supplier in China, with an output of around 30tpm for bismuth ingot, reported that they sold some bismuth ingot at RMB127,000-128,000/t (USD9.54-9.61/lb) in the recent several days, which increased further against RMB126,000-126,500/t (USD9.46-9.50/lb) before the Spring Festival holiday. In the export market, they in total sold 10t of bismuth ingot at USD9.65-9.70/lb FOB China after the holiday, up further against USD9.6/lb FOB China before the holiday.
The source noted that many bismuth ingot plants have not began to sell materials after the holiday and the supply for the materials in the spot market is tight. Moreover, the stocks of bismuth ingot in some exchanges will keep increasing. Thus, bismuth ingot prices rise further after the holiday.
A major bismuth ingot trader in China claimed that they bought some bismuth ingot at RMB126,000/t (USD9.46/lb) after the Spring Festival holiday, up by RMB1,000/t (USD0.07/lb) against the purchasing price of RMB125,000/t (USD9.39/lb) before the holiday. Moreover, they finalized another purchase with a small quantity at RMB128,000/t (USD9.61/lb) with a regular supplier early this week.
The source added that they are in no hurry to sell materials and do not make offers now, thinking that Chinese bismuth ingot prices will increase further in the near future.
