Monthly Bismuth Market Report May 2025

Contents

1 Market Highlights 2
2 Economy and Policy 2
2.1 China and U.Asian Metal Copyright99%min FOB China 3 3.Asian Metal CopyrightS. reach deal to scale back tariffs 2
2.2 China strengthens control over export of strategic minerals 2
2.3 China adjusts tariffs on US imports 2
2.4 China acts to curb excessive competition, support private economy 2
2.5 China launches fourth batch of third round of environmental inspections 2
2.6 China's non-oil and gas exploration spending rises for fourth straight year 2
3.1 Chinese Market 2
3.1.Asian Metal Copyright1 China and U.Asian Metal Copyright1 Bismuth Ingot 99.99%min EXW 100% down 2
3.1.Asian Metal Copyright3 AM Stats: Chinese bismuth ingot producers' inventory up by 63.Asian Metal Copyright2 Bismuth Oxide 99.9%min EXW 100% down 2
3.2 Chinese Export Market 3
3.2.Asian Metal Copyright99%min Delivered India 3 4 Company News 3 5 Producers Statistics 3 5.Asian Metal Copyright1 Bismuth Ingot 99.99%min FOB China 3
3.3 International Market 3
3.3.Asian Metal Copyright1 China's exports of bismuth ingot down by 100% YoY in April 2025 4 Graph Graph 1 Chinese bismuth ingot 99.Asian Metal Copyright1 Bismuth Ingot 99.99%min in Rotterdam Warehouse 3
3.3.Asian Metal Copyright39% YoY in late May 2025 4 6 Export Statistics 4 6.Asian Metal Copyright2 Bismuth Ingot 99.99%min Delivered America 3
3.3.Asian Metal Copyright3 Bismuth ingot 99.Asian Metal Copyright3 Bismuth ingot 99.99%min Delivered India 3
4 Company News 3
5 Producers Statistics 3
5.1 AM Stats: Chinese bismuth ingot producers' operating rate down by 23.67% MoM in May 2025 3
5.2 AM Stats: Chinese bismuth ingot producers' output down by 23.67% MoM in May 2025 4
5.3 AM Stats: Chinese bismuth ingot producers' inventory up by 63.39% YoY in late May 2025 4
6 Export Statistics 4
6.1 China's exports of bismuth ingot down by 100% YoY in April 2025 4

Graph

Graph 1 Chinese bismuth ingot 99.99%min price trend from 2025-4-01 to 2025-5-31 (RMB/t) 2
Graph 2 Chinese bismuth Oxide 99.9%min price trend from 2025-4-01 to 2025-5-31 (RMB/t) 2
Graph 3 Chinese bismuth ingot 99.99%min FOB price trend from 2025-4-01 to 2025-5-31 (USD/lb) 3
Graph 4 European bismuth ingot 99.99%min price trend from 2025-4-01 to 2025-5-31 (USD/lb) 3
Graph 5 American bismuth ingot 99.99%min price trend from 2025-4-01 to 2025-5-31 (USD/lb) 3
Graph 6 Indian bismuth ingot 99.99%min price trend from 2025-4-01 to 2025-5-31 (INR/kg) 3
Graph 7 Chinese bismuth ingot producers' operating rate from 2024-5 to 2025-5 (%) 3
Graph 8 Chinese bismuth ingot producers' operating rate by province from 2024-5 to 2025-5 (%) 3
Graph 9 Chinese bismuth ingot producers' monthly output from 2024-5 to 2025-5 (t) 4
Graph 10 Chinese bismuth ingot producers' monthly output from 2024-5 to 2025-5 by province (t) 4
Graph 11 Chinese bismuth ingot producers' inventory by month from 2024-5 to 2025-5 (t) 4
Graph 12 Chinese bismuth ingot producers' inventory by month and province from 2024-5 to 2025-5 (t) 4

Table

Table 1 Top four bismuth ingot export destinations for China in April 2025 (kg) 4
.Asian Metal Copyright3Asian Metal Copyright