Antimony prices rise in China

BEIJING (Asian Metal) 20 Feb 08 - Although many antimony ingot smelters are still out of production,producers and traders who have some stocks on hand continue to raise quotations on tight supply. A few deals have been reportedly concluded at RMB41,000-41,600/t (USD5,726-5,810/t) ex works this week against RMB40,500-41,000/t (USD5,656-5,726/t) ex works last week, market sources reported to Asian Metal today.
A Hunan-based consumer reported that many small smelters in Hunan have not resumed production, and neither do they offer. However, those who piled up some stocks before the Spring Festival have kept increasing offers after they returned from holiday. "Some of them begin quoting RMB39,000/t (USD5,447/t) VAT excluded from RMB38,000/t (USD5,307/t) VAT excluded seen early last week. Consumers who are in urgent need have to accept the high price," said the source.
Consuming about 200-300tpm of antimony ingot, the source, who purchased small quantities of antimony ingot at around RMB37,000/t (USD5,168/t) VAT excluded late January plans to hold back from purchasing in a short time.
A Hunan-based producer reported a deal concluded at a price above RMB41,500/t (USD5,796/t) ex works lately for antimony ingot with famous brand. The source revealed that the concluded price at the end of last
month was only around RMB39,000/t (USD5,447/t) ex works.
The smelter halted production at the end of January due to the severe weather and will not resume production before the festival of lanterns. As the tight supply is unlikely to improve in the short term, the source holds that the antimony ingot market may keep firm at least in the rest of this month.