Chinese bismuth ingot price keeps dropping
2015-08-12 09:39:20 [Print]
BEIJING (Asian Metal) 12 Aug 15 - The mainstream price for bismuth ingot 99.99%min in China is around RMB66,000-68,000/t (USD4.76-4.9/lb) now, representing a further decrease of RMB1,000/t (USD0.07/lb) against that on Monday. As demand shows no signal of picking up and the overall inventory on the spot market is still large, market participants predict that bismuth ingot price will decrease further in near future.
“We sold 1t of bismuth ingot 99.99%min at RMB67,000/t (USD4.83/lb) on Tuesday, down further against our last deal of 2t at RMB68,000/t (USD4.9/lb) on Monday. The quotations from producers for bismuth ingot 99.99%min decreased further by RMB2,000/t (USD0.14/lb) to RMB65,000/t (USD4.69/lb) in early this week. We purchase from producers after receiving orders now, and still hold 10t of stock which were purchased at RMB73,000/t (USD5.27/lb) in late July. It is impossible to sell this batch of material now and we just keep it,” said a trader in China.
The trader claimed that they could distribute around 50tpm of bismuth ingot in domestic market previously and the trading volume decreased to 25t in July. “Production capacity for bismuth ingot in China increased too much in the first half of 2014 due to the increasing price and stocking by Fanya Exchange. The exchange is facing various rumors now. The bismuth ingot market is in oversupply currently and demand decreases continually, and thus, the price keeps dropping,” said the trader, expecting bismuth ingot price to continue the down-moving trend in the near future.
A bismuth ingot producer in China reported that they lowered offer for bismuth ingot 99.99%min from RMB68,000/t (USD4.91/lb) late last week further to RMB66,000/t (USD4.71/lb) early this week, with no deals concluded. The producer is running part of their capacity with an output of around 30tpm for bismuth ingot, holding a stock of around 30t in hand.
“We only sealed small deals in late July and there were even few inquires in early August. The market is quiet under the weak demand, and buyers show no interest in holding stocks with the expectation of future price drop due to the large supply on the spot market. It is hard for the market to see any improvements in the following several weeks,” said the producer.
“We sold 1t of bismuth ingot 99.99%min at RMB67,000/t (USD4.83/lb) on Tuesday, down further against our last deal of 2t at RMB68,000/t (USD4.9/lb) on Monday. The quotations from producers for bismuth ingot 99.99%min decreased further by RMB2,000/t (USD0.14/lb) to RMB65,000/t (USD4.69/lb) in early this week. We purchase from producers after receiving orders now, and still hold 10t of stock which were purchased at RMB73,000/t (USD5.27/lb) in late July. It is impossible to sell this batch of material now and we just keep it,” said a trader in China.
The trader claimed that they could distribute around 50tpm of bismuth ingot in domestic market previously and the trading volume decreased to 25t in July. “Production capacity for bismuth ingot in China increased too much in the first half of 2014 due to the increasing price and stocking by Fanya Exchange. The exchange is facing various rumors now. The bismuth ingot market is in oversupply currently and demand decreases continually, and thus, the price keeps dropping,” said the trader, expecting bismuth ingot price to continue the down-moving trend in the near future.
A bismuth ingot producer in China reported that they lowered offer for bismuth ingot 99.99%min from RMB68,000/t (USD4.91/lb) late last week further to RMB66,000/t (USD4.71/lb) early this week, with no deals concluded. The producer is running part of their capacity with an output of around 30tpm for bismuth ingot, holding a stock of around 30t in hand.
“We only sealed small deals in late July and there were even few inquires in early August. The market is quiet under the weak demand, and buyers show no interest in holding stocks with the expectation of future price drop due to the large supply on the spot market. It is hard for the market to see any improvements in the following several weeks,” said the producer.
Bismuth Ingot 99.99%min Delivered US
Unit:USD/lb
China bismuth ingot producers' suspension number statistics by province by month
Unit: pcs
