Few deals concluded in antimony market

BEIJING (Asian Metal) 19 Jul 07 – Chinese antimony market sees few deals concluded. Most consumers hold back from purchasing, watching and waiting for further market trend.
The closures of antimony mines result in tighter supply of antimony concentrate. Combined with weak demand, antimony producers are put into dilemma.
“Due to closures of mines and smelters, supply of antimony ingot is tighter. However, consumer buying is still weak,” said a Hunan-based producer who halted production at the end of Jun.
According to the source, most suppliers raised offers to RMB41,500-42,000/t (USD5,489-5,556/t) ex works, and some even quote as high as RMB42,500/t (USD5,622/t) ex works. However, buyers are not keen on purchase.
The export market for antimony ingot also keeps dull. On the one hand, most traders hold back from quoting; on the other hand, foreign buyers are reluctant to accept offers as high as USD5,500-5,600/t CIF Rotterdam. As most European consumers and traders are in vacation, market demand is expected to be weak in the following month. “Whether the market will continue to rise or not entirely depends on how when closed mines and smelters restart,” a Guangdong-based trader said.