Some crude bismuth smelters raise quotations

20 Jun 08 – Some crude bismuth smelters raise their quotations this week, because they have received more inquiries recently, close sources reported.
A South China-based smelter with a monthly production capacity of around 30 tons concluded a seven-ton deal of bismuth 99.99%min at RMB155,000/t (USD10.22/lb) early this week, down from the last deal of RMB158,000/t (USD10.42/lb) last week. "It is difficult to make profits at present, because some crude bismuth smelters raised their quotations for bismuth 95%min to RMB128,000/t (USD8.37-8.44/lb) VAT excluded, up from RMB126,000/t (USD8.31/lb) VAT excluded," said the source.
Another South China-based trader with a monthly production capacity of around 40 tons concluded less than ten tons of bismuth 99.99%min at RMB158,000-160,000/t (USD10.42-10.55/lb) in the past two weeks.The source confirmed that some crude bismuth smelters raised their quotations for bismuth 95%min to RMB128,000-130,000/t (USD8.37-8.57/lb) VAT excluded this week, up from RMB125,000-126,000/t (USD8.24-8.31/lb) VAT excluded last week. "The reason is that export market becomes slightly active since the end of May and the beginning of June and crude bismuth smelters received more inquiries recently than in May," explained the source, adding, "However, the demand from domestic market remains weak."