Chinese bismuth ingot suppliers optimistic about future market
2014-01-28 09:00:47 [Print]
BEIJING (Asian Metal) 28 Jan 14 - Chinese bismuth ingot prices increased by RMB1,000/t (USD0.07/lb) further to RMB125,000-126,500/t (USD9.39-9.48/lb) last week. As market participants leave the market gradually for the Spring Festival holiday and the transportation around the Spring Festival holiday is inconvenient, Chinese bismuth ingot market sees few transactions this week. But most bismuth ingot suppliers are optimistic about the future market, thinking that the prices will go up further after the Spring Festival holiday as the demand is stable and the stocks in some Asian exchanges are likely to increase further.
A supplier in China, with an output of around 60tpm for bismuth ingot, reported that their last deal was sealed at RMB126,000//t (USD9.46/lb) on last Thursday, up by RMB1,000/t (USD0.07/lb) against that of the previous week, and they stop making offers this week as they cannot arrange delivery before the Spring Festival holiday.
The source claimed that Chinese bismuth ingot prices increased continuously since November until now, which was mainly because of the stockpile of bismuth ingot in some Asian exchanges. They were mainly working on some long-term orders with regular customers recently and only supplied a few materials to the spot market. They now have a stock of around 100t in hand. Looking ahead, the source thinks that Chinese bismuth ingot prices will increase further after the Spring Festival holiday as consumers will come back to the market to add stocks at the time and more importantly, the stocks of bismuth ingot in some Asian exchanges are likely to increase further.
A trader in China, with a regular trading volume of around 30tpm for bismuth ingot, reported that they sold some bismuth ingot at RMB126,000-126,500/t (USD9.46-9.50/lb) last week, which increased further against the RMB125,000/t (USD9.39/lb) in mid-January, and they stopped making deals on Monday and will leave the market for Spring Festival holiday soon.
The source claimed that they received more inquiries for bismuth ingot in the first half of January as downstream consumers prepared stocks actively before the Spring Festival holiday. The source thinks that Chinese bismuth ingot prices will be firm or rise further after the holiday because the supply on the spot market is likely to keep tight with the stockpiling in Asian exchanges.
A supplier in China, with an output of around 60tpm for bismuth ingot, reported that their last deal was sealed at RMB126,000//t (USD9.46/lb) on last Thursday, up by RMB1,000/t (USD0.07/lb) against that of the previous week, and they stop making offers this week as they cannot arrange delivery before the Spring Festival holiday.
The source claimed that Chinese bismuth ingot prices increased continuously since November until now, which was mainly because of the stockpile of bismuth ingot in some Asian exchanges. They were mainly working on some long-term orders with regular customers recently and only supplied a few materials to the spot market. They now have a stock of around 100t in hand. Looking ahead, the source thinks that Chinese bismuth ingot prices will increase further after the Spring Festival holiday as consumers will come back to the market to add stocks at the time and more importantly, the stocks of bismuth ingot in some Asian exchanges are likely to increase further.
A trader in China, with a regular trading volume of around 30tpm for bismuth ingot, reported that they sold some bismuth ingot at RMB126,000-126,500/t (USD9.46-9.50/lb) last week, which increased further against the RMB125,000/t (USD9.39/lb) in mid-January, and they stopped making deals on Monday and will leave the market for Spring Festival holiday soon.
The source claimed that they received more inquiries for bismuth ingot in the first half of January as downstream consumers prepared stocks actively before the Spring Festival holiday. The source thinks that Chinese bismuth ingot prices will be firm or rise further after the holiday because the supply on the spot market is likely to keep tight with the stockpiling in Asian exchanges.
Bismuth Ingot 99.99%min Delivered India
Unit:INR/kg
China bismuth ingot producers' suspension number statistics by province by month
Unit: pcs
