European bismuth market witnesses further uptick in price
2014-02-07 01:57:44 [Print]
LONDON (Asian Metal) 7 Feb 14 - The European bismuth 99.99%min metal market has continued to witness prices appreciate this week with sources reporting to Asian Metal that the continued stockpiling has completely orchestrated this upward motion. Sources explained to Asian Metal that demand is still rather soft in Europe with spot deals remaining sporadic. It was explained that certain downstream markets have continued to show promise with many claiming the lead replacement initiatives being enforced are the largest contributor. It has been revealed that the downstream pigment industry in particular has shown indications of increased demand moving forward. Sources have also mentioned that if the lead replacement initiatives are indeed further enforced, the automotive industry will certainly showing a distinct increase in consumption. Currently prices are quoted between USD9.50-9.80/lb in warehouse Rotterdam, a USD0.40/lb increase to prices quoted at the end of last week.
A large European trader reported to Asian Metal that the current market is continuing to witness firmer prices, which he believes will most likely continue for some time. The trader mentioned that he has been receiving a decent amount of enquiries over the last few weeks with most translating into sales which he is very pleased about. The trader explained that he is frustrated with the stockpiling that is occurring within Asia, as this has been the core factor in prices appreciating in Europe. The trader sold 5 tonnes early this week for USD9.70/lb in warehouse Rotterdam. “I believe prices are going to continue their march upwards. There is a lot of momentum and I do not think the stockpiling in Asia is going to let up. I am predicting prices will surpass USD10.0/lb in the very near future”, the source explained.
A large European consumer explained to Asian Metal that he has been seeing prices firming since the beginning of 2014, and is not surprised that we are now slowly starting to approach USD10.0/lb. The consumer explained that he had hoped for a stable price level for 2014, but it seems that this was all in vain. The stockpiling activity within Asia has kept prices moving upwards and this seems that it will continue moving forward. The source mentioned he is not in need of material at the moment, but will be looking to make a purchase in the next few weeks. He mentioned that he had contact a few traders this week and revealed that the lowest price he received was USD9.60/lb for one container. “It seems that Chinese producers are confident and traders are predicting much higher prices in the near future. From our side, I believe that the pigment industry will see positive growth in 2014 so will place additional demand in the market, but at the time being any price increase is completely led by China”, the source explained.
A large European trader reported to Asian Metal that the current market is continuing to witness firmer prices, which he believes will most likely continue for some time. The trader mentioned that he has been receiving a decent amount of enquiries over the last few weeks with most translating into sales which he is very pleased about. The trader explained that he is frustrated with the stockpiling that is occurring within Asia, as this has been the core factor in prices appreciating in Europe. The trader sold 5 tonnes early this week for USD9.70/lb in warehouse Rotterdam. “I believe prices are going to continue their march upwards. There is a lot of momentum and I do not think the stockpiling in Asia is going to let up. I am predicting prices will surpass USD10.0/lb in the very near future”, the source explained.
A large European consumer explained to Asian Metal that he has been seeing prices firming since the beginning of 2014, and is not surprised that we are now slowly starting to approach USD10.0/lb. The consumer explained that he had hoped for a stable price level for 2014, but it seems that this was all in vain. The stockpiling activity within Asia has kept prices moving upwards and this seems that it will continue moving forward. The source mentioned he is not in need of material at the moment, but will be looking to make a purchase in the next few weeks. He mentioned that he had contact a few traders this week and revealed that the lowest price he received was USD9.60/lb for one container. “It seems that Chinese producers are confident and traders are predicting much higher prices in the near future. From our side, I believe that the pigment industry will see positive growth in 2014 so will place additional demand in the market, but at the time being any price increase is completely led by China”, the source explained.
Bismuth Ingot 99.99%min EXW China
Unit:RMB/mt
China bismuth ingot producers' inventory statistics by province by month
Unit: mt
