According to SMM's assessment, China's refined bismuth production in December 2024 is expected to decrease significantly by approximately 28.77% MoM compared to November 2024. Following consecutive declines in September and October, production pulled back sharply again. From the perspective of producers' operations, many producers have entered equipment maintenance as the year-end approaches. Additionally, raw material supply has gradually tightened, and producers' willingness to purchase raw materials at year-end has also declined. Although some producers are still striving to meet annual targets in Q4, most producers have seen a drop in production, with only a few experiencing slight growth. Therefore, market participants generally consider the sharp decline in December production to be within expectations. Detailed data shows that among the 24 producers surveyed by SMM, six producers saw a significant decrease in production in December, two producers experienced a significant increase, and one producer halted production. This led to a substantial decline in overall bismuth ingot production in December compared to the previous month. Consequently, many market participants anticipate that, with the Chinese New Year holiday starting at the end of January, China's refined bismuth production in January 2025 is likely to decrease further, with little chance of remaining stable.
Note: Since October 2022, SMM has been publishing its assessed national refined bismuth production. Thanks to SMM's high coverage rate in the bismuth industry, SMM surveys a total of 24 refined bismuth producers across eight provinces in China, with a total sample capacity exceeding 50,000 mt and a capacity coverage rate of over 99%.
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![Produção de bismuto refinado da China estimada pela SMM em agosto subirá cerca de 1,5% em relação ao mês anterior [dados SMM]](https://imgqn.smm.cn/usercenter/eThpo20251217171723.jpeg)
