Monthly Bismuth Market Report Oct 2025

Contents

1 Market Highlights 2
2 Economy and Policy 2
2.1 China's foreign trade grows for eight consecutive quarters 2
2.2 China's mineral exploration investment grows for fourth straight year 2
2.3 China-U.Asian Metal Copyright2 Chinese Export Market 2 3.Asian Metal CopyrightS. trade talks in Kuala Lumpur deliver positive results 2
3.1 Chinese Market 2
3.1.Asian Metal Copyright1 China's foreign trade grows for eight consecutive quarters 2 2.Asian Metal Copyright1 Bismuth Ingot 99.99%min EXW 100% down 2
3.1.Asian Metal Copyright trade talks in Kuala Lumpur deliver positive results 2 3.Asian Metal Copyright2 Bismuth Oxide 99.9%min EXW 100% down 2
3.2 Chinese Export Market 2
3.2.Asian Metal Copyright1.Asian Metal Copyright1 Bismuth Ingot 99.99%min FOB China 2
3.3 International Market 2
3.3.Asian Metal Copyright1 China's unwrought bismuth Bi99.Asian Metal Copyright1 Bismuth Ingot 99.99%min in Rotterdam Warehouse 2
3.3.Asian Metal Copyright99%min Delivered America 3 3.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 up by 10.23% MoM in Oct 2025 3
5.2 AM Stats: Chinese bismuth ingot producers' output up by 10.25% MoM in Oct 2025 3
5.3 AM Stats: Chinese bismuth ingot producers' inventory down by 17.85% YoY in late Oct 2025 4
6 Export Statistics 4
6.1 China's unwrought bismuth (Bi>99.Asian Metal Copyright1 China's unwrought bismuth Bi99.Asian Metal Copyright99%) export volume grew 37.97% MoM in Sep 2025 4

Graph

Graph 1 Chinese bismuth ingot 99.99%min price trend from 2025-9-01 to 2025-10-31 (RMB/t) 2
Graph 2 Chinese bismuth Oxide 99.9%min price trend from 2025-9-01 to 2025-10-31 (RMB/t) 2
Graph 3 Chinese bismuth ingot 99.99%min FOB price trend from 2025-9-01 to 2025-10-31 (USD/lb) 2
Graph 4 European bismuth ingot 99.99%min price trend from 2025-9-01 to 2025-10-31 (USD/lb) 2
Graph 5 American bismuth ingot 99.99%min price trend from 2025-9-01 to 2025-10-31 (USD/lb) 3
Graph 6 Indian bismuth ingot 99.99%min price trend from 2025-9-01 to 2025-10-31 (INR/kg) 3
Graph 7 Chinese bismuth ingot producers' operating rate from 2024-10 to 2025-10 (%) 3
Graph 8 Chinese bismuth ingot producers' operating rate by province from 2024-10 to 2025-10 (%) 3
Graph 9 Chinese bismuth ingot producers' monthly output from 2024-10 to 2025-10 (t) 3
Graph 10 Chinese bismuth ingot producers' monthly output from 2024-10 to 2025-10 by province (t) 3
Graph 11 Chinese bismuth ingot producers' inventory by month from 2024-10 to 2025-10 (t) 4
Graph 12 Chinese bismuth ingot producers' inventory by month and province from 2024-10 to 2025-10 (t) 4
.Asian Metal Copyright99%min in Rotterdam Warehouse 2 3Asian Metal Copyright