European bismuth market remains unchanged despite reports of further stockpiling in Asia
2014-05-27 18:53:15 [Print]
LONDON (Asian Metal) 27 May 14 – The European bismuth metal market has remained flat this week despite reports circulating that further stockpiling is set to occur in Asia. Sources speaking with Asian Metal emphasized that the current price level is solely propped up by the stockpiling on certain exchanges within Asia. Sources explained that demand is certainly healthy however not strong enough to maintain such inflated levels. The downstream pigment industry has continued to witness strong levels of consumption which is expected to continue to witness small increments moving forward. Sources have expressed their concern regarding further stockpiling occurring within Asia which will indeed result in prices moving up further. Traders have explained that consumers will indeed seek alternatives if prices increase any further which will be detrimental to long term demand levels. Currently prices have continued to remain perched at USD10.10-10.40/lb in warehouse Rotterdam.
A large European trader explained to Asian Metal that he had not seen anything moving at the moment that would suggest of demand increasing anytime soon. The trader mentioned that he was indeed pleased with the current level of business however stressed that if prices did indeed appreciate any further, customers of his would refrain from purchasing material and possibly even sought alternative cheaper options. The source explained that he sold 5 tonnes of bismuth metal on Monday this week for USD10.20/lb in warehouse Rotterdam. “It is a little concerning that reports are doing the rounds that further material is set to be stockpiled in Asia, this would not be healthy for demand in my opinion”, the source explained.
A large European consumer explained that he is very agitated to hear about the further stockpiling plans in Asia as he believes that the current price levels are already artificially inflated. The source explained that he had been purchasing from hand to mouth for some time now in the hope of prices edging downwards in the near future. The source explained that he was able to source material fairly easily; despite of reports from traders that material is sparse. The source explained that he was quoted USD10.40/lb in warehouse Rotterdam earlier this week however has delayed this purchase in hope of a lower offer. “It is exacerbating to listen to reports of exchanges in Asia looking to stock more material. It is artificial and not representative of the true demand within the market. I truly hope that this market corrects itself in the near future”, the source added.
A large European trader explained to Asian Metal that he had not seen anything moving at the moment that would suggest of demand increasing anytime soon. The trader mentioned that he was indeed pleased with the current level of business however stressed that if prices did indeed appreciate any further, customers of his would refrain from purchasing material and possibly even sought alternative cheaper options. The source explained that he sold 5 tonnes of bismuth metal on Monday this week for USD10.20/lb in warehouse Rotterdam. “It is a little concerning that reports are doing the rounds that further material is set to be stockpiled in Asia, this would not be healthy for demand in my opinion”, the source explained.
A large European consumer explained that he is very agitated to hear about the further stockpiling plans in Asia as he believes that the current price levels are already artificially inflated. The source explained that he had been purchasing from hand to mouth for some time now in the hope of prices edging downwards in the near future. The source explained that he was able to source material fairly easily; despite of reports from traders that material is sparse. The source explained that he was quoted USD10.40/lb in warehouse Rotterdam earlier this week however has delayed this purchase in hope of a lower offer. “It is exacerbating to listen to reports of exchanges in Asia looking to stock more material. It is artificial and not representative of the true demand within the market. I truly hope that this market corrects itself in the near future”, the source added.
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Unit:INR/kg
China bismuth ingot producers' number MoM output increase statistics by province by month
Unit: pcs
