According to SMM's survey of bismuth producers nationwide, China's refined bismuth production in November 2024 increased by 7.25% MoM compared to October 2024. After two consecutive months of decline in September and October, production rebounded. From the production situation of the manufacturers, due to the recent weak bismuth prices, raw material suppliers have increased their shipments. Although the enthusiasm for purchasing raw materials has decreased, many manufacturers still need to meet their annual targets in Q4, so most manufacturers did not reduce production, and some even slightly increased. Therefore, market participants generally expected the 7% increase in November production. From the detailed data, among the 24 surveyed manufacturers, 3 saw a significant decline in production in November, while 4 saw a significant increase, leading to an overall increase in refined bismuth production compared to the previous month. SMM expects that the national refined bismuth production in December 2024 will likely remain stable, but considering the year-end factors, the possibility of further increases is low.
Note: Since October 2022, SMM has been publishing the national production of refined bismuth. Thanks to SMM's high coverage rate in the bismuth industry, SMM's survey includes 24 refined bismuth producers across 8 provinces, with a total sample capacity exceeding 50,000 mt, covering more than 99% of the total capacity.
