| Antimony market to rise?
BEIJING (Asian Metal) 17 Jan 07 – Antimony market has kept stable but quiet for over three
weeks after many producers raised offers due to the antimony mine accident happened early last
December. Some market participants reported to Asian Metal that the antimony ingot market is
showing some signs of warming up as more domestic producers are insisting on higher offers
and inquiries from overseas market are increasing slowly.
A Hong Kong-based trader reported to have received a few antimony inquiries over the past
week, but no deals have been concluded as he could not purchase at reasonable prices from
domestic suppliers.
“Smelters seem to be not in a hurry to sell, and prices they offered are unacceptable,” said the
source. “If more foreign buyers enter into the market in the following month, Chinese suppliers
will probably raise offers before they leave the market for Spring Festival.”
A consumer from Guangdong confirmed that major smelters are insisting on higher offers of
RMB40,500-41,000/t(USD5,200-5,263/t) ex works for their products with high quality and famous
brand. Meanwhile, some others are reluctant to sell and plan to hold on for better prices.
The source purchased some high-quality antimony ingot at around RMB40,000/t(USD5,135/t) ex
works early this month, but claimed that it is no more easy to replenish stocks at such a price.
However, the source do not think the price will rise much as domestic demand still keeps flat, and
many smelters have stocks on hand.
Meanwhile, a second trader revealed that the market has shown some signs of rising as it is hard
to purchase at below RMB40,500/t ex works from domestic suppliers. “Traders have to sell at
prices above USD5,400/t FOB in order to make profit,” said the source.
The source reported a few deals concluded at prices between USD5,450-5,500/t CIF Rotterdam
for antimony ingot with famous brand, the price of which is usually slightly higher than that of
non-branded materials.
The source holds that the antimony ingot market will gradually move up in the following weeks
before the Spring Festival.
According to market sources, the antimony trioxide market remains unchanged. |
