Chinese bismuth ingot price picks up slightly
2015-08-21 11:54:16 [Print]
BEIJING (Asian Metal) 21 Aug 15 - Chinese bismuth ingot 99.99%min price went down by around RMB2,500/t (USD0.39/lb) to RMB65,500-67,500/t (USD4.65-4.79/lb) last week and some suppliers sold the material at RMB64,000-65,000/t (USD4.55-4.62/lb). The price stood stable at RMB65,500-67,500/t (USD4.65-4.79/lb) in early this week and picked up slightly to RMB66,000-68,000/t (USD4.69-4.83/lb) late this week as the purchasing activities from domestic traders and overseas buyers increased.
“We purchased 5t of bismuth ingot 99.99%min at RMB64,000/t (USD4.55/lb) last week. The offer was stable early this week while increased to RMB65,000/t (USD4.62/lb) on Wednesday and further to RMB66,000-67,000/t (USD4.69-4.76/lb) on Thursday. We booked 15t of it at RMB65,000/t (USD4.62/lb) from a regular supplier on Wednesday. But demand from downstream consumers does not improve and they are still inactive in adding stocks. We only sold 3t of the material at RMB66,500/t (USD4.72/lb) and 1t at RMB67,000/t (USD4.76/lb) on Wednesday. We tentatively raised the offer to RMB68,000/t (USD4.83/lb) yesterday, with no deals concluded,” said a trader in Shanghai.
With a regular trading volume of around 30tpm of bismuth ingot, the trader holds a stock of 15t now. He added that some major traders begin to make purchase this week and bismuth ingot price rebounds slightly, so they build a few stocks. But whether the price will continue to go up or not after the round of purchase is unclear, after all the supply is sufficient and the large inventory of bismuth ingot in Fanya Exchange still worries the market. They are in no hurry to add stocks in large quantities further.
A major bismuth ingot supplier in China reported that they mainly sold bismuth ingot 99.99%min at RMB64,000-66,000/t (USD4.55-4.69/lb) last week and early this week, depending on different quantities, while they raised offer to RMB68,000/t (USD4.83/lb) late this week and sealed several deals of 3t and 5t at RMB67,000-68,000/t (USD4.76-4.83/lb). “A buyer wanted to buy 20t of bismuth ingot 99.99%min at RMB66,000/t (USD4.69/lb) with six-month’s D/A yesterday, we did not accept it,” said the producer.
The producer claimed that inquiries for bismuth ingot increase after the summer vacation and traders begin to add stocks are the major reasons for the price rebound this week. “I think the price will go up slightly further next week. But we are cautiously optimistic about the future market because the overall supply for bismuth ingot is large and the demand sees no signal of picking up continually,” added the producer.
“We purchased 5t of bismuth ingot 99.99%min at RMB64,000/t (USD4.55/lb) last week. The offer was stable early this week while increased to RMB65,000/t (USD4.62/lb) on Wednesday and further to RMB66,000-67,000/t (USD4.69-4.76/lb) on Thursday. We booked 15t of it at RMB65,000/t (USD4.62/lb) from a regular supplier on Wednesday. But demand from downstream consumers does not improve and they are still inactive in adding stocks. We only sold 3t of the material at RMB66,500/t (USD4.72/lb) and 1t at RMB67,000/t (USD4.76/lb) on Wednesday. We tentatively raised the offer to RMB68,000/t (USD4.83/lb) yesterday, with no deals concluded,” said a trader in Shanghai.
With a regular trading volume of around 30tpm of bismuth ingot, the trader holds a stock of 15t now. He added that some major traders begin to make purchase this week and bismuth ingot price rebounds slightly, so they build a few stocks. But whether the price will continue to go up or not after the round of purchase is unclear, after all the supply is sufficient and the large inventory of bismuth ingot in Fanya Exchange still worries the market. They are in no hurry to add stocks in large quantities further.
A major bismuth ingot supplier in China reported that they mainly sold bismuth ingot 99.99%min at RMB64,000-66,000/t (USD4.55-4.69/lb) last week and early this week, depending on different quantities, while they raised offer to RMB68,000/t (USD4.83/lb) late this week and sealed several deals of 3t and 5t at RMB67,000-68,000/t (USD4.76-4.83/lb). “A buyer wanted to buy 20t of bismuth ingot 99.99%min at RMB66,000/t (USD4.69/lb) with six-month’s D/A yesterday, we did not accept it,” said the producer.
The producer claimed that inquiries for bismuth ingot increase after the summer vacation and traders begin to add stocks are the major reasons for the price rebound this week. “I think the price will go up slightly further next week. But we are cautiously optimistic about the future market because the overall supply for bismuth ingot is large and the demand sees no signal of picking up continually,” added 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
