Chinese bismuth ingot price falls further
2015-08-11 08:55:14 [Print]
BEIJING (Asian Metal) 11 Aug 15 - The prevailing price for bismuth ingot 99.99%min in China was in a range of RMB67,000-69,000/t (USD4.91-5.06/lb) on Monday, down by RMB1,000/t (USD0.07/lb) further from late last week, and a few suppliers with heavy inventory pressure lowered offer to around RMB65,000/t (USD4.77/lb). Buyers are cautious in adding stocks due to the rumors about Fanya Exchange and the weakening demand, and it is expected that the price will continue the down-moving trend in the near future.
“We sold 2t of bismuth ingot 99.99%min at RMB67,000/t (USD4.91/lb) on Monday, representing a decrease of RMB1,000/t (USD0.07/lb) further from last Friday. Our customers claimed that the market has seen price of RMB65,000/t (USD4.77/lb). We quoted it at USD5/lb FOB China on Monday, USD0.1/lb lower than that of late last week, while no deal was sealed,” said a bismuth ingot producer in China.
With an output of around 40tpm, the producer claimed that the market is too risky and they only run part of their capacity to fulfill orders and hold few stocks in hand. Looking ahead, the producer thinks that Chinese bismuth ingot price will drop further in the following two weeks due to the weak demand and large inventory on the spot market.
“We got a few deals in small quantities, like 2t or 5t, last week, and lowered the offer for bismuth ingot 99.99%min by RMB1,000/t (USD0.07/lb) further to RMB68,000/t (USD4.99/lb) on Monday, with no transactions being finalized. The quotations we received from producers on Monday were around RMB64,000-65,000/t (USD4.69-4.77/lb), down by RMB2,000/t (USD0.15/lb) from late last week, but we still have many stocks in hand and the demand shows no signal of picking up in the near future, and thus, we intend to run down inventory and will not add stocks in this week,” said a major bismuth ingot trader in China.
The trader noted that domestic and overseas buyers incline to watch the market currently under the down-moving trend of the price. The rumors about Fanya Exchange make buyers cautious in purchasing. Furthermore, the real demand for bismuth ingot weakens, and the trader expects the price for bismuth ingot to go down further in the near future.
“We sold 2t of bismuth ingot 99.99%min at RMB67,000/t (USD4.91/lb) on Monday, representing a decrease of RMB1,000/t (USD0.07/lb) further from last Friday. Our customers claimed that the market has seen price of RMB65,000/t (USD4.77/lb). We quoted it at USD5/lb FOB China on Monday, USD0.1/lb lower than that of late last week, while no deal was sealed,” said a bismuth ingot producer in China.
With an output of around 40tpm, the producer claimed that the market is too risky and they only run part of their capacity to fulfill orders and hold few stocks in hand. Looking ahead, the producer thinks that Chinese bismuth ingot price will drop further in the following two weeks due to the weak demand and large inventory on the spot market.
“We got a few deals in small quantities, like 2t or 5t, last week, and lowered the offer for bismuth ingot 99.99%min by RMB1,000/t (USD0.07/lb) further to RMB68,000/t (USD4.99/lb) on Monday, with no transactions being finalized. The quotations we received from producers on Monday were around RMB64,000-65,000/t (USD4.69-4.77/lb), down by RMB2,000/t (USD0.15/lb) from late last week, but we still have many stocks in hand and the demand shows no signal of picking up in the near future, and thus, we intend to run down inventory and will not add stocks in this week,” said a major bismuth ingot trader in China.
The trader noted that domestic and overseas buyers incline to watch the market currently under the down-moving trend of the price. The rumors about Fanya Exchange make buyers cautious in purchasing. Furthermore, the real demand for bismuth ingot weakens, and the trader expects the price for bismuth ingot to go down further in the near future.
Bismuth Ingot 99.99%min Delivered India
Unit:INR/kg
China bismuth ingot producers' number MoM output increase statistics by province by month
Unit: pcs
