The price of bismuth market increased last week [SMM Spot Bismuth Weekly Review]

Recently, the bismuth market price has stabilized after the Chinese New Year holiday, and has shown an upward trend after stabilization. The tight market bismuth raw material resources are still reflected by manufacturers. Due to low inventory, various manufacturers have little pressure to ship. After the Chinese New Year holiday, market demand has improved from an overall weak situation, and terminal inquiries and purchases have also begun to increase. The recent two consecutive bidding results for bismuth products from manufacturers have also been good. Many market participants said that the traditional off-season has passed, and the price of bismuth has bottomed out and stabilized. It is expected that with the recovery of demand in March, the price of bismuth may continue to rise. The SMM mainstream price of bismuth ingots was 54,000-55,000 yuan/ton, an average price increase of 500 yuan/ton compared with a week earlier.

According to SMM, according to official news from Hunan Shizhuyuan Nonferrous Metals Co., Ltd., the final bidding of 400 physical tons of bismuth concentrate from Shizhuyuan in February 2024 was successfully completed. This batch of 400 physical tons of bismuth concentrate is currently in the storage center of Hunan Shizhuyuan Nonferrous Metals Co., Ltd. According to official news, the bidding was divided into 2 rounds, each with a bidding quantity of 200 physical tons, and was directly auctioned off by the buyer. The final average auction transaction price was around 48,650 yuan/mt with metal content. The transaction price was 9,650 yuan/mt with metal content higher than the lowest bid price of 39,000 yuan/mt with metal content. It was 50 yuan/mt with metal content higher compared to the 700 tons in January.

According to SMM, Shandong Humon launched a public bidding sale of 31.0825 tons of its bismuth ingots last week. According to official news, this batch of bismuth ingots is brand Bi998 and contains about 99.8% bismuth. The bismuth ingots are currently in the factory of Shandong Hengbang Smelting Co., Ltd. It is rumored that the final transaction price is also more than 51,000 yuan/ton. Many market participants said that including processing fees and freight, the cost of processing into refined bismuth will be more than 54,000 yuan/ton. Therefore, such a high bidding result has also given a lot of confidence in the market.