Substantial increases in China support Europe, US minor metals markets

Several minor metals found support on Wednesday August 26 following price increases in China, with traders expecting higher replacement costs in the coming weeks despite consumers and demand not fully back in the spot market, Fastmarkets heard.

The price of bismuth in Europe edged up over the assessment week, with traders that spoke to Fastmakets reporting difficulty finding available material in both Asia and Europe amid persistent higher offers from producers despite the fact that fundamentals have not changed.
"The increase seems speculative since downstream demand has not risen, but offers from China continue to climb and are at levels between $2.80 and $2.95 per lb," a European trader said
Fastmarkets assessed the price of bismuth 99.99% Bi min, in-whs Rotterdam at $2.70-2.85 per lb on Wednesday August 26, up by 4.7% from $2.60-2.70 per lb the week before.
Some traders are not willing to sell the stocks they have at hand in the European market in anticipation of further increases in China, which would make it unprofitable to replace their units.

"The replacement cost is getting higher," one...

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