Chinese bismuth participants watch the market

Facing the dropping price in bismuth market, many Chinese participants are cautious to take much new action, planning to watch the market.

"We quote USD13/lb for bismuth 99.99%min these two weeks, but customers do not have any interest to purchase, nor do they send the counter bid," said a trader, whose last conclusion was traced back to late September, when an Indian consumer bought five tons of bismuth 99.99%min at USD13/lb.

The source usually deals with about 100 tons of bismuth per month, but it does not contract any deal so far this month. "Receiving few inquires from consumers, we are almost out of the bismuth business this month," added the source, believing it can not see any sign of rebound, but remain stable in the near future.

"Smelters quoted RMB190,000/t for bismuth 99.99%min last week, and we purchased five tons at the price of RMB187,000/t, " stated a manufacturer of bismuth oxide, emphasizing that they do not want to purchase in large volume due to volatile bismuth price.

With the only purchase mentioned above in October, the consumer expressed its worry about the price decrease. If the consumer buys large volumes of the material, it will lose money in case the price of bismuth metal drops when selling bismuth oxide, elaborated the source.

Under the pressure of turnover, smelters may have to undersell their stockpile if demand remains low, forecasted the consumer.

Participants hold that the bismuth market may remain stable in the coming weeks, or slide after a period of stability if demand continues to be low.