Chinese bismuth ingot market witnesses bullish attitudes
2024-03-19 08:26:05 [Print]
BEIJING (Asian Metal) 19 Mar 24 - Chinese bismuth ingot 99.99%min market witnessed bullish attitudes due to limited stocks held by producers and high raw materials prices. The downstream began to purchase with active inquiries. Therefore, the current mainstream prices of Chinese bismuth ingot 99.99%min moved up to RMB54,500-55,500/t (USD3.43-3.50/lb) EXW D/P, up by RMB500/t (USD0.03/lb) from one week ago. Given that most suppliers held limited stocks and intended to increase prices further, insiders forecasted that the prevailing prices of Chinese bismuth ingot 99.99%min would climb in the upcoming week.
A producer in South China disclosed that they had confidence about the Chinese bismuth ingot 99.99%min market and predicted that the mainstream prices would move up in the following days given that most producers held back from selling due to limited stocks. They received 3-4 inquiries over the past three days, while they got less then 2 inquiries early last week. They last sold around 33t at RMB55,500/t (USD3.50/lb) EXW D/P late last week. "We considered selling at the price as low as RMB55,500/t (USD3.50/lb) EXW D/P today, while we could accept the price as low as RMB55,000/t (USD3.46/lb) early last week", said the producer, who intended to lift price to RMB56,000/t (USD3.53/lb) in the upcoming days due to limited stocks.
The producer, with a regular monthly trading volume of 60t of bismuth ingot 99.99%min, expected to sell around 60t this month and sold about 30t last month. They hold around 30t of stocks now.
A consumer in North China, who remained bullish about the market, predicted that the mainstream prices of Chinese bismuth ingot 99.99%min would increase to RMB56,000/t (USD3.53/lb) EXW D/P in the forthcoming week. Their regular suppliers generally held back from selling and intended to lift their prices further in the upcoming days. "We last purchase 66t at RMB54,500/t (USD3.43/lb) EXW D/P early last week", said the producer. Most suppliers quoted RMB55,500/t (USD3.50/lb) EXW D/P today and refused to give any concession, while they could accept the price as low as RMB54,500/t (USD3.43/lb) one week ago.
The consumer, based on a consumption capacity of 3,000tpy of bismuth ingot 99.99%min, holds around 100t of stocks now, unchanged MoM. They expect to consume around 200t in March and consumed around 150t in February. They consumed around 1,500t totally in 2022 and around 2,400t in 2023.
A producer in South China disclosed that they had confidence about the Chinese bismuth ingot 99.99%min market and predicted that the mainstream prices would move up in the following days given that most producers held back from selling due to limited stocks. They received 3-4 inquiries over the past three days, while they got less then 2 inquiries early last week. They last sold around 33t at RMB55,500/t (USD3.50/lb) EXW D/P late last week. "We considered selling at the price as low as RMB55,500/t (USD3.50/lb) EXW D/P today, while we could accept the price as low as RMB55,000/t (USD3.46/lb) early last week", said the producer, who intended to lift price to RMB56,000/t (USD3.53/lb) in the upcoming days due to limited stocks.
The producer, with a regular monthly trading volume of 60t of bismuth ingot 99.99%min, expected to sell around 60t this month and sold about 30t last month. They hold around 30t of stocks now.
A consumer in North China, who remained bullish about the market, predicted that the mainstream prices of Chinese bismuth ingot 99.99%min would increase to RMB56,000/t (USD3.53/lb) EXW D/P in the forthcoming week. Their regular suppliers generally held back from selling and intended to lift their prices further in the upcoming days. "We last purchase 66t at RMB54,500/t (USD3.43/lb) EXW D/P early last week", said the producer. Most suppliers quoted RMB55,500/t (USD3.50/lb) EXW D/P today and refused to give any concession, while they could accept the price as low as RMB54,500/t (USD3.43/lb) one week ago.
The consumer, based on a consumption capacity of 3,000tpy of bismuth ingot 99.99%min, holds around 100t of stocks now, unchanged MoM. They expect to consume around 200t in March and consumed around 150t in February. They consumed around 1,500t totally in 2022 and around 2,400t in 2023.
