European antimony prices rise on tight supply

BEIJING (Asian Metal) 11 Feb 08 – With most of Chinese on holiday this week, European antimony supply becomes tight. European dealers reported deals of antimony ingot price already concluded higher than USD6,000/t in warehouse Rotterdam.
A European trader revealed to Asian Metal that he bought 48t low bismuth grade two antimony ingot from two other traders at around USD6,200/t in warehouse Rotterdam. "Because there are no Chinese supply at the moment, and I think very little material on water, so I have to accept whatever the price is as I have contract to fulfill," said the source.
He disclosed that the consumers are resisting the higher prices, especially the major ones; they want to wait until after the Chinese New Year for lower prices. However, the trader believes there is almost no material on water, so price will continue to go up until the end of March that is when the first shipment will arrive Europe.
A European trader told Asian Metal that antimony price broke the USD6,000/t barrier in the last two days, and now is trading at around USD6,150/t in warehouse Rotterdam. "I am about to conclude a deal this morning at that price," said the source.
According to the trader, the availability of antimony in warehouse Rotterdam is very tight. "This is a result of less liquidity," concluded the trader who thinks there would be more material if there are more traders in the market, but now the flat market had driven many small traders out of the market. "When there is emergency, the consumers couldn't find enough material and have to accept the higher prices."