European bismuth prices rocket to record highs on China export curbs
March 19 (Reuters) - Bismuth prices in Europe have surged to all-time highs as China's export controls squeeze supplies of the mineral used in atomic research, cosmetics and pharmaceuticals, according to traders and experts.
Prices of bismuth have jumped to $40 a lb on the European spot market, an all-time high, up from $6 per lb in late January, a more than six-fold rise.
Get a look at the day ahead in U.S. and global markets with the Morning Bid U.S. newsletter. Sign up here.
In the United States, bismuth prices are even higher - at $55 a lb compared with $6.5-$7 before China's export curbs.
Traders said U.S. prices were also higher because of the tariffs imposed by U.S. President Donald Trump on imports from top producer China.
China in February announced plans to impose export controls on five key metals, opens new tab - tungsten, tellurium, molybdenum, bismuth, and indium - in response to Trump's import tariffs.
"At the moment there are no supply sources to fully replace Chinese material," commodity analysts with business intelligence company CRU Group told Reuters.
"As much of the supply tightness is based on policy, it can ease very quickly. But assuming a full stop of Chinese bismuth exports, new capacity ex-China would be necessary."
According to the U.S. Geological Survey (USGS), China was responsible for producing around 13,000 metric tons of mined bismuth last year or more than 80% of the global total. The rest comes from countries such as Japan, South Korea, and Laos.
Prices have risen significantly, making it risky to ship materials for stockpiling since delivery takes about two months and no one knows where the market will be by then, said a Europe-based trader.
"This situation is causing a very low unsold inventory level internationally, keeping the price for prompt material at a very high level," he added.
Meanwhile, the most active bismuth contract on the Wuxi Stainless Steel Exchange was trading at 163,800 yuan ($22,677) per metric ton on Tuesday, 105% higher than at the beginning of the year.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Reuters
32 minutes ago
- Reuters
Trump says meeting on Iran planned for Thursday
WASHINGTON, June 9 (Reuters) - U.S. President Donald Trump on Monday said the U.S. and Iran would continue talks on Thursday for a nuclear deal, adding that Tehran was a tough negotiator and that the main impediment to an agreement was over enrichment. "We're doing a lot of work on Iran right now," Trump told reporters at an economic event at the White House. "It's tough. ... They're great negotiators." "They're just asking for things that you can't do. They don't want to give up what they have to give up," he added. "They seek enrichment. We can't have enrichment. We want just the opposite. And so far, they're not there." "They have given us their thoughts on the deal. And I said, you know, it's just not acceptable," Trump said as Tehran plans to hand Washington a counter-proposal. Trump also said he discussed Iran among other topics with Israeli Prime Minister Benjamin Netanyahu on Monday, adding that the call went well.
Reuters
an hour ago
- Reuters
Trump said he would not drop Elon Musk's Starlink service
WASHINGTON, June 9 (Reuters) - U.S. President Donald Trump said on Monday that he would not drop the Starlink service made by Elon Musk's SpaceX company, calling it a good service. He told reporters he wishes Musk well.
Belfast Telegraph
an hour ago
- Belfast Telegraph
NI hotels join compensation action against Booking.com's ‘anti-competitive' practices
The action — involving more than 25 European countries and which could cost millions of euros — follows the judgment by the European Court of Justice (ECJ) on September 19 last year, which found that the platform's parity clauses breached EU competition law. However, has previously said it is unaware of any pending legal action and suggested the case appeared to be based on 'incorrect and misleading' information. 'This is a chance for hoteliers to stand up for their rights, recover financial losses, and promote a fairer online marketplace,' said Janice Gault, Chief Executive of the Northern Ireland Hotels Federation (NIHF). 'This legal action is unprecedented, and the Federation is supporting it on behalf of its members to secure full compensation for hotels affected by anti-competitive practices. 'For over 20 years, the platform's parity clauses have posed serious challenges for the local hotel sector, leading to significant financial harm through inflated commission fees. 'This is not only about exposing unfair business conduct but also about seeking meaningful financial redress.' In 2021, unilaterally terminated corresponding compensation negotiations with the German Hotel Association (IHA) and started legal proceedings against several hundred German hotels before the Amsterdam District Court. An interim result of this (pending) process is the ruling of the European Court of Justice from September 19 2024, which confirmed findings of the German Federal Cartel Office that the platform's parity clauses breached EU competition law. This has resulted in claims for damages for hotels throughout Europe, which are now to be asserted with the class action supported by HOTREC, an umbrella group representing hotels, restaurants and cafes in Europe. The federation said that over the past 20 years, these parity clauses placed Northern Ireland hotels at a significant competitive disadvantage and that they suppressed price competition between and other online platforms, leading to inflated commissions paid by hotels. In addition, the clauses restricted hotels from offering better prices or availability on their own websites, limiting direct sales and autonomy. The federation added that use of anti-competitive parity clauses caused 'substantial financial harm to hotel businesses across Northern Ireland'. Under the general principles of European competition law, hotels in Northern Ireland are entitled to claim compensation from for the financial losses suffered. Affected hotels may also be eligible to recover a significant portion of commissions paid to in any period from 2004 to 2024, plus interest. The NIHF said they are actively working with affected hotels, guest accommodation providers and guesthouses across Northern Ireland to guide them through the next steps in joining the collective legal action against The case will be led and handled by a team of competition lawyers, litigators, and competition economists, who have already successfully achieved the ECJ's judgment last September. The legal claim will be brought before the courts in the Netherlands, with hotels having until July 31 to sign up to the damages litigation. The Irish Hotels Federation is one of dozens around Europe involved in the action. In a statement to RTÉ News last week, said it is 'not aware of any European wide legal action being taken by hotels'. It added that: 'The ECJ judgment relates specifically to questions asked by the Amsterdam District Court in relation to litigation between and some German hotels disputing the legality of price parity clauses in Germany between 2006 and 2016 — the court did not conclude that German parity price clauses were anti-competitive or had an effect on competition. The Amsterdam Court will now need to make a decision specifically on German parity clauses only.'
