SMM Analysis On China October Refined Bismuth Production And November Forecast

According to SMM's survey of bismuth producers nationwide, China's refined bismuth production in October 2024 slightly decreased by 0.22% MoM compared to September 2024. After the first decline in September, production continued to decline in October. From the producers' production situation, due to the recent significant decline in bismuth prices and the easing of raw material shortages, producers' enthusiasm for purchasing raw materials has decreased to avoid losses from further price drops. Therefore, market participants generally expected the decline in October production. From the detailed data, among the 24 surveyed producers by SMM, 4 producers saw a significant decrease in production in October, while 4 producers saw a significant increase, resulting in a slight overall decline in bismuth ingot production compared to the previous month. Therefore, SMM expects that the national refined bismuth production in November 2024 is likely to remain stable, but a certain degree of decline cannot be ruled out.

Note: Since October 2022, SMM has been publishing national refined bismuth production data. Thanks to SMM's high coverage rate in the bismuth industry, the total number of surveyed refined bismuth producers is 24, distributed across 8 provinces nationwide, with a total sample capacity exceeding 50,000 mt and a total capacity coverage rate of over 99%.