Chinese bismuth ingot price increases further
2015-09-10 09:19:01 [Print]
BEIJING (Asian Metal) 10 Sep 15 - The prevailing price for bismuth ingot 99.99%min in China went up further from RMB68,500-70,500/t (USD4.87-5.01/lb) in the end of last week to RMB70,000-72,000/t (USD4.91-5.11/lb) currently. Many suppliers are holding back from selling materials, expecting the price to move up further, and a few insist on RMB75,000/t (USD5.33/lb). The orders in domestic market increase while those from overseas markets are still few, and the export prices keep at USD4.9-5.1/lb FOB China now.
“We sold around 5t of bismuth ingot 99.99%min at RMB71,000/t (USD5.04/lb) in the end of last week. Some buyers want to buy the material at RMB72,000/t (USD5.11/lb) this week, but we will not sell it at RMB75,000/t (USD5.33/lb), with two deals of 1t each concluded at the level. The inquiries are increasing and I think the price will go up further in the following couple of weeks, so we raise offer continually,” said a bismuth ingot producer in Hunan.
The producer is running at half of its capacity with an output of around 50tpm for bismuth ingot 99.99%min and holds a regular stock of around 30t in hand as they have to ensure the smooth supply with their regular customers on some long-term orders.
A major bismuth ingot producer in Hunan reported that they raised offer for bismuth ingot 99.99%min by RMB2,000/t (USD0.14/lb) to RMB73,000/t (USD5.18/lb) early this week, and finally sealed several deals of around 5t and 10t at RMB72,000/t (USD5.11/lb), up further against their mainstream transaction price of RMB70,000-71,000/t (USD4.87-5.04/lb) in late last week. “The export market is still weak. Based on the current domestic price, bismuth ingot 99.99%min price should reach USD5.1/lb in Rotterdam warehouse now. An European buyer wanted to buy a batch of the material at USD4.75/lb early this week, which was the price that the market saw in mid-August when domestic price dropped to RMB65,000/t (USD4.62/lb). We had some stocks there and quoted it at USD5.0/lb, however, the buyer did not accept it. Many buyers in Europe still have stocks in hand now,” said the producer.
The source noted that demand from overseas market does not improve obviously after the summer vacation as expected. The purchasing activities from traders and consumers in domestic market increase and many suppliers are holding back from selling materials as the price is below their production cost, and thus, bismuth ingot price rebounds. “I think the price will increase further, but will not be too much, after all the real demand is not very strong and what will happen to the large inventory in Fanya Exchange is still unclear. I think bismuth ingot 99.99%min price will fluctuate between RMB65,000-80,000/t (USD4.62-5.68/lb) in the remainder of this year,” said the producer.
“We sold around 5t of bismuth ingot 99.99%min at RMB71,000/t (USD5.04/lb) in the end of last week. Some buyers want to buy the material at RMB72,000/t (USD5.11/lb) this week, but we will not sell it at RMB75,000/t (USD5.33/lb), with two deals of 1t each concluded at the level. The inquiries are increasing and I think the price will go up further in the following couple of weeks, so we raise offer continually,” said a bismuth ingot producer in Hunan.
The producer is running at half of its capacity with an output of around 50tpm for bismuth ingot 99.99%min and holds a regular stock of around 30t in hand as they have to ensure the smooth supply with their regular customers on some long-term orders.
A major bismuth ingot producer in Hunan reported that they raised offer for bismuth ingot 99.99%min by RMB2,000/t (USD0.14/lb) to RMB73,000/t (USD5.18/lb) early this week, and finally sealed several deals of around 5t and 10t at RMB72,000/t (USD5.11/lb), up further against their mainstream transaction price of RMB70,000-71,000/t (USD4.87-5.04/lb) in late last week. “The export market is still weak. Based on the current domestic price, bismuth ingot 99.99%min price should reach USD5.1/lb in Rotterdam warehouse now. An European buyer wanted to buy a batch of the material at USD4.75/lb early this week, which was the price that the market saw in mid-August when domestic price dropped to RMB65,000/t (USD4.62/lb). We had some stocks there and quoted it at USD5.0/lb, however, the buyer did not accept it. Many buyers in Europe still have stocks in hand now,” said the producer.
The source noted that demand from overseas market does not improve obviously after the summer vacation as expected. The purchasing activities from traders and consumers in domestic market increase and many suppliers are holding back from selling materials as the price is below their production cost, and thus, bismuth ingot price rebounds. “I think the price will increase further, but will not be too much, after all the real demand is not very strong and what will happen to the large inventory in Fanya Exchange is still unclear. I think bismuth ingot 99.99%min price will fluctuate between RMB65,000-80,000/t (USD4.62-5.68/lb) in the remainder of this year,” 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
