Bismuth traders buying now for stock
2006-08-29 10:52:56 【Print】
BEIJING (Asian Metal) 29 Aug 06 – The tight supply of bismuth seems to be creating panic in the market with traders rushing in to buy in other to be on the save side when the price eventually jumps. Currently, the market has started to see inquiries with few deals concluded, and price remains stable at around USD4.40-4.50/lb.
A producer confirmed material is getting tighter now but most inquiries and demands they are getting is from traders who possibly want to speculate or stock up the material to cash in on high price very soon, though that does not mean there are no inquires from consumers.
"We got some inquiries from end-users in Japan, Taiwan, and Hong Kong," said the source whose price this week is around USD4.40/lb. "I think when traders start to buy and stock up materials, that is an indication that price will go up very soon."
The source added that demand from consumers in Europe is not fast coming, probably because they are still on holiday, and the source believes they are warming up for a good market after the holiday, looking at the movement of the market now.
However, with price in European market still crawling, a Indian trader informed Asian Metal that price in India has seen a level of around USD4.60-4.80/lb CIF Nhava Sheva for Chinese material, but little demand was seen today because people are going for local material.
Yet, analysts said Bismuth is posed for a higher price as Chinese suppliers bend in throwing the prince high since most of them claimed having little material at hand now.
