[SMM Bismuth Market Tracking Report: Hunan Shizhuyuan Nonferrous Metals Successfully Closes Deal for 600 mt of Bismuth Concentrate] SMM reported on May 22: According to the official announcement from Hunan Shizhuyuan Nonferrous Metals Co., Ltd., the company successfully closed the bidding for 600 mt of bismuth concentrate in May 2024. This batch of 600 mt of bismuth concentrate is currently stored in the company's warehousing center. According to official sources, the bidding was conducted in two sessions, with 300 mt of bismuth concentrate offered in each session, and all were directly purchased by a buyer from Hunan. The final average winning bid prices were approximately 66,100 yuan/mt (metal content) and 66,600 yuan/mt (metal content), respectively, nearly 13,000 yuan/mt (metal content) higher than the base price of 53,000 yuan/mt (metal content) for the tender, which was a significant increase. Such an explosive tender result took the market by surprise. Some market participants stated that such auction prices also demonstrated that as market transactions gradually picked up, confidence in the bismuth market was continuously recovering, and the tender results also indicated that both suppliers and end-users were optimistic about the future market. In this case, it is expected that bismuth market prices will strengthen in the future, which undoubtedly boosts confidence in the refined bismuth market.

Magnesium prices fluctuated rangebound at highs this week. As of the time of reporting, the mainstream quotations for 99.90% magnesium ingot in the main producing regions stood at RMB 17,300-17,400/mt today, up by RMB 100/mt from last Friday.