Antimony export prices up in China

BEIJING (Asian Metal) 10 Jan 08 - Antimony ingot export prices rise prompted by higher Ex works in China and the fast apprecitation of RMB against US dollar. The export market sees fewer activities as the result, even thought traders reported more inquiries were received after the New Year holidays.
Asianmetal(English) http://www.asianmetal.com 2WSC A Guangdong-based trader suspended offering for export as his suppliers increased their offers sharply late last week, and the fluctuation of exchange rate is affecting the export business.
Asianmetal(English) http://www.asianmetal.com 65WQ "Due to our suppliers' price adjustment, our purchase cost will be higher than USD5,450/t, so we have to quote at least USD5,500/t FOB to cover the export cost," said the source. "However, I don't think foreign buyers will accept the increased price."
Asianmetal(English) http://www.asianmetal.com N92M The source exports one to three containers of antimony ingot per month irregularly and also some antimony trioxide.
Asianmetal(English) http://www.asianmetal.com 4J6I Another trader from Guangdong confimred the same situation. The source reported that major Hunanbased smelters increased concluded prices of high-quality antimony ingot to RMB38,500-38,600/t (USD5,296-5,309/t) ex works from previous RMB38,000-38,200/t (USD5,227-5,254/t) ex works. Therefore, traders will have to increase their export quotations accordingly.
Asianmetal(English) http://www.asianmetal.com 37B1 "We received more inquiries after the New Year holiday. I think many foreign buyers, who expect the price to rise after the Chinese Spring Festival, are trying to replenish stocks now," said the source. "To their disappointment, the price rises earlier than expected." The source does not quote this week, but thinks the export price should not be lower than USD5,600/t CIF Rotterdam. Nevertheless, the source has no confidence in talking buyers into accepting such a price.
Asianmetal(English) http://www.asianmetal.com R42T Meanwhile, both sources pointed out that many exporters are more cautious about the export business due to appreciation of Chinese currency, which is also one of the main factors stimulating exporters lift offers.