Chinese bismuth price climbs significantly
2007-04-26 09:27:10 【Print】
BEIJING (Asian Metal) 26 Apr 07 – The price of bismuth 99.99%min goes up sharply from RMB265,000-270,000/t (USD15.57-15.87/lb) last week to RMB295,000-300,000/t (USD17.34-17.63/lb) so far this week in China, with supports of participants’ high expectations and continuous demand from domestic pharmaceutical consumers.
“We purchased 10t of bismuth 99.99%min at RMB290,000/t (USD17.04/lb) today, while the price was RMB280,000/t (USD16.46/lb) this Monday,” said an official from a pharmaceutical manufacturer, which demands around 30t of bismuth per month.
According to the source, the bismuth price is ballooning, with some smelters successfully selling bismuth 99.99%min at RMB300,000/t (USD17.63/lb).
The source pointed that they have great liquidity pressures. “Unless downstream consumers are able to accept higher prices, we will not purchase any bismuth metal,” added the source.
An official from another pharmaceutical consumer, which purchased around 30t of bismuth so far this month, confirmed that the bismuth price rose to RMB295,000/t (USD17.34/lb).
“Smelters are unwilling to sell bismuth and expecting the price to increase further, so the price will soon breach RMB300,000/t (USD17.63/lb),” predicted the source.
“Pushed by the price rise in Chinese market, the export price will go up accordingly,” said an official from a trading company, which exported 800t of bismuth in 2006.
Although foreign buyers are lagged behind to accept increasing bismuth prices, the source believed that the export price of bismuth increases from USD15.20/lb last week to USD16.00/lb this week.
“We purchased 10t of bismuth 99.99%min at RMB290,000/t (USD17.04/lb) today, while the price was RMB280,000/t (USD16.46/lb) this Monday,” said an official from a pharmaceutical manufacturer, which demands around 30t of bismuth per month.
According to the source, the bismuth price is ballooning, with some smelters successfully selling bismuth 99.99%min at RMB300,000/t (USD17.63/lb).
The source pointed that they have great liquidity pressures. “Unless downstream consumers are able to accept higher prices, we will not purchase any bismuth metal,” added the source.
An official from another pharmaceutical consumer, which purchased around 30t of bismuth so far this month, confirmed that the bismuth price rose to RMB295,000/t (USD17.34/lb).
“Smelters are unwilling to sell bismuth and expecting the price to increase further, so the price will soon breach RMB300,000/t (USD17.63/lb),” predicted the source.
“Pushed by the price rise in Chinese market, the export price will go up accordingly,” said an official from a trading company, which exported 800t of bismuth in 2006.
Although foreign buyers are lagged behind to accept increasing bismuth prices, the source believed that the export price of bismuth increases from USD15.20/lb last week to USD16.00/lb this week.
