Antimony suppliers reluctant to sell

BEIJING (Asian Metal) 20 Oct 06 – As antimony ingot prices are surging up rapidly in domestic market, many smelters are reluctant to sell, market sources reported to Asian Metal today.
A Hunan-based trader, who sold a batch of antimony ingot to a long-term customer at around RMB41,500/t(USD5,247/t) early this week, reported that the metal is being offered at around RMB42,000/t(USD5,310/t). “We won’t sell any material below such a price as we have great difficulty building up stocks when most smelters suspended sales,” said the source.
According to the source, many Chinese producers holding positive attitude towards the future market are reluctant to sell, watching and waiting for higher prices.
“We’re considering of purchasing some antimony ingot use for antimony trioxide production but we can’t obtain the material at a reasonable price. Furthermore, many smelters have suspended sales," said a Guangdong-based consumer.
Benefiting from the long-term relationships with suppliers, the source could manage to purchase a batch of antimony ingot at a price below RMB40,000/t(USD5,057/t) ex works late last week.
However, buyers can no longer obtain materials at such a price.
The source confirmed that many suppliers, including some major producers are holding on for better prices. Some of the major smelters have no spot materials on hand, and some others hold out from offering at the moment.