Hunan Shizhuyuan Nonferrous Successfully Concludes Sale of 600 mt in Physical Content of Bismuth Concentrates [SMM Bismuth Market Tracking Report]

According to the official news from Hunan Shizhuyuan Nonferrous Metals Co., Ltd., the sales of 600 mt in physical content of bismuth concentrates in May 2024 was successfully concluded via bid solicitation. This batch of 600 mt in physical content of bismuth concentrates is currently stored at the warehouse center of Hunan Shizhuyuan Nonferrous Metals Co., Ltd. According to official sources, the bidding was divided into two sessions, each with 300 mt in physical content, and was directly purchased by a buyer from Hunan. The final average transaction prices were approximately 66,100 yuan/mt in metal content and 66,600 yuan/mt in metal content, respectively, which is nearly 13,000 yuan/mt in metal content higher than the starting bid price of 53,000 yuan/mt in metal content. This explosive bidding result was beyond market expectations. Some market participants indicated that such auction prices also prove that as market transactions gradually resume, confidence in the bismuth market is continuously recovering. The bidding results also show that both suppliers and end-users are optimistic about the future market. Consequently, the bismuth market prices are expected to strengthen in the future, which undoubtedly boosts confidence in the refined bismuth market.