Tight production, stable bismuth price [SMM Weekly Spot Bismuth Review]

SMM News on June 27: This week, the bismuth market saw stable prices. As the market entered the final week of mid-year, transaction activity was sluggish, with buyers and sellers showing limited interest in trading. Judging from some transaction prices, bismuth prices remained stable and firm. Manufacturers' shipping prices remained firm, with relatively small room for negotiation. Due to summer maintenance at many manufacturers, declining production and tight raw material supplies for bismuth, manufacturers' reluctance to sell became evident. Some manufacturers indicated that their production schedules were affected by maintenance and raw material shortages, making it challenging to meet delivery commitments. Sometimes, they even had to purchase spot cargo externally to fulfill orders, which was quite embarrassing. Given the recent stable and strong prices in the bismuth market, speculative funds have become active, with the speculative market also showing significant activity, awaiting the arrival of July. This is because many market participants still anticipate the traditional peak purchasing season before the overseas summer break. As of the end of this week, SMM's mainstream prices for bismuth ingots were 132,000-133,000 yuan/mt.

In terms of news, according to customs data, China's exports of bismuth trioxide in May 2025 were 934.92 mt, representing a slight MoM increase of around 5% compared to the 888.29 mt exported in April. Additionally, SMM has learned from official sources that Guangxi Nandan Nanfang Metal Co., Ltd. will conduct a public tender sale for 100 mt of bismuth ingots today. The detailed specifications for the tender are as follows: purity of 99.99%; execution standard: GB/T915-2010. Guangxi Nandan Nanfang Metal Co., Ltd. has not yet set a clear starting price for the 100 mt of bismuth ingots in this tender, with the bidding deadline set at 09:50 on June 24, 2025. Many market participants believe that the quantity of 100 mt of bismuth ingots in Guangxi Nandan Nanfang Metal Co., Ltd.'s public tender is not large. Given the recent firm prices in the bismuth market, they think the likelihood of a successful transaction is very high. However, the official final transaction price has not yet been announced.

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