Chinese bismuth ingot prices decline
2023-04-24 08:31:25 [Print]
BEIJING (Asian Metal) 24 Apr 23 - Chinese bismuth ingot 99.99%min suppliers generally marked down the prices actively to compete for orders since late last week, while the market still ran slowly in view of wait-and-see attitudes from downstream consumers. Currently, the mainstream prices of Chinese bismuth ingot 99.99%min move down to RMB56,500-57,500/t (USD3.72-3.78/lb) EXW D/P, a decrease of RMB1,000/t (USD0.07/lb) from the middle of this month. Market participants believe that the prevailing prices of Chinese bismuth ingot 99.99%min would go down further in the upcoming week due to soft prices from suppliers and inactive deals in the spot market.
A consumer in northern China noted that their regular suppliers generally marked down the price of bismuth ingot 99.99%min to RMB56,500/t (USD3.72/lb) EXW D/P now and few of the suppliers could lower the price even for firm bids right now, while the suppliers still insisted on RMB57,000/t (USD3.75/lb) EXW D/P one around 17th April. They last purchased around 33t at RMB57,000/t (USD3.75/lb) EXW D/P on 17th April and then kept watching the market with bearish attitudes till now. The source said, "As traders generally hold large stocks and some of them keep in a hurry to sell, we forecast that the prevailing prices of Chinese bismuth ingot 99.99%min would show a downtrend in the following week."
The consumer, based on a consumption capacity of 3,000tpy of bismuth ingot 99.99%min, holds few stocks now, unchanged from the end of last month. They expect to consume around 220t in April and consumed almost 200t in March. They consumed around 1,500t totally in 2022 and around 620t till now in 2023.
A trader disclosed that they offer RMB57,000/t (USD3.75/lb) EXW D/P for bismuth ingot 99.99%min now and consider to accept a counteroffer of RMB500/t (USD0.03/lb) EXW D/P for firm bids as their consumers generally would like to bid below RMB56,000/t (USD3.72/lb) EXW D/P now. However, they still insisted on RMB58,000/t (USD3.82/lb) EXW D/P one week ago, when they last sold around 33t at this price. "We hold bearish attitudes towards the market and expect that the prevailing prices of Chinese bismuth ingot 99.99%min would decline to RMB56,000/t (USD3.72/lb) EXW D/P in the upcoming week in view of inactive deals in the spot market," the source said.
The trader, with a regular monthly trading volume of 65t of bismuth ingot 99.99%min, expects to sell around 65t this month, up by about 33t from last month. They hold around 33t of stocks now, a decrease of around 33t from the end of last month.
A consumer in northern China noted that their regular suppliers generally marked down the price of bismuth ingot 99.99%min to RMB56,500/t (USD3.72/lb) EXW D/P now and few of the suppliers could lower the price even for firm bids right now, while the suppliers still insisted on RMB57,000/t (USD3.75/lb) EXW D/P one around 17th April. They last purchased around 33t at RMB57,000/t (USD3.75/lb) EXW D/P on 17th April and then kept watching the market with bearish attitudes till now. The source said, "As traders generally hold large stocks and some of them keep in a hurry to sell, we forecast that the prevailing prices of Chinese bismuth ingot 99.99%min would show a downtrend in the following week."
The consumer, based on a consumption capacity of 3,000tpy of bismuth ingot 99.99%min, holds few stocks now, unchanged from the end of last month. They expect to consume around 220t in April and consumed almost 200t in March. They consumed around 1,500t totally in 2022 and around 620t till now in 2023.
A trader disclosed that they offer RMB57,000/t (USD3.75/lb) EXW D/P for bismuth ingot 99.99%min now and consider to accept a counteroffer of RMB500/t (USD0.03/lb) EXW D/P for firm bids as their consumers generally would like to bid below RMB56,000/t (USD3.72/lb) EXW D/P now. However, they still insisted on RMB58,000/t (USD3.82/lb) EXW D/P one week ago, when they last sold around 33t at this price. "We hold bearish attitudes towards the market and expect that the prevailing prices of Chinese bismuth ingot 99.99%min would decline to RMB56,000/t (USD3.72/lb) EXW D/P in the upcoming week in view of inactive deals in the spot market," the source said.
The trader, with a regular monthly trading volume of 65t of bismuth ingot 99.99%min, expects to sell around 65t this month, up by about 33t from last month. They hold around 33t of stocks now, a decrease of around 33t from the end of last month.
