European antimony prices keep high

BEIJING (Asian Metal) 10 Apr 08 – Beginning a week ago, Chinese suppliers increased offers of antimony ingot in the export market, but as European dealers confirmed the increasing prices, some of them do not see any increase in demand in local market.
A European trader confirmed price of USD5,800-5,900/t in warehouse Rotterdam for 99.65%min standard grade two antimony ingot, and opines that there is not much material in spot market.
He thinks there are three reasons for the increasing price. First, on account of port congestions in Vietnam, there are less material being shipped to Europe. Second, the concentrate is in short supply in China now, because the raw material Chinese smelters used in March was produced before February, and there was no antimony concentrate produced during the snowstorm. Third, the Chinese currency is getting stronger against the U.S. dollar, so the cost of the material is getting more expensive in dollars.
He holds that price is likely to go up a little more due to the above reasons. However, every time the price approaches USD6,000/t, it falls back. He thinks there is a base price now at USD5,500/t, so price will not fall below.
Another trader received offers of USD5,850-5,950/t CIF Rotterdam for 99.65%min low bismuth grade two and 99.8% grade one antimony ingot. According to him, the offers are about USD150-200/t more expensive than one-and-half weeks ago.
However, he had not concluded any deals after Chinese suppliers increased the offered prices. “I received several inquiries, but many of the would-be buyers didn’t reply after I told them the prices, so I think they may just be in the market checking for prices,” said the trader and hopes consumers would come to market soon for the production before summer.