Chinese bismuth ingot offers keep increasing
2014-01-24 09:09:59 [Print]
BEIJING (Asian Metal) 24 Jan 14 - Chinese bismuth ingot market keeps the up-moving trend this week. The mainstream transaction prices increased by around RMB500/t (USD0.03/lb) further to RMB125,000-126,000/t (USD9.39-9.46/lb) early this week. The market saw a few deals being concluded at RMB126,500/t (USD9.50/lb) late this week and some suppliers even raised offers to RMB127,000/t (USD9.54/lb).
A bismuth ingot supplier in China, with an output of around 30tpm, reported that their last deal for bismuth ingot was concluded at RMB120,000/t (USD9.01/lb) in late December and have not sold any materials up till now in January. The source noted that Chinese bismuth ingot prices increased fast in January. The mainstream prices are RMB126,000/t (USD9.46/lb) this week and a few transactions have been sealed at RMB127,000/t (USD9.54/lb).
“Chinese bismuth ingot prices increased fast recently as buyers were active in making purchase before the Spring Festival holiday and the stocks in Fanya Exchange kept increasing,” said the source. “The stocks of bismuth ingot in Fanya are likely to increase further and I think the bismuth ingot prices will reach RMB130,000/t (USD9.76/lb) soon on the spot market after the holiday and we do not intend to sell materials in the near future.”
A second supplier in China, with an output of around 40tpm for bismuth ingot, claimed that this week they just finish orders for bismuth ingot signed at RMB121,000/t (USD9.09/lb) in early January with regular customers and do not make offers currently. According to the source, it is impossible to purchase bismuth ingot at below RMB125,000/t (USD9.39/lb) on the spot market currently and some transaction prices reach RMB126,000-126,500/t (USD9.46-9.50/lb).
With few stocks in hand, the source noted that they intend to watch the market for a while and do not accept future orders now, expecting the prices to go up further.
