Antimony market at an upward trend

BEIJING (Asian Metal) 8 May 08 - Antimony market remains at an upward trend with producers offering higher prices of RMB42,000/t (USD6,000/t) ex works. Most participants hold positive attitudes towards the future market in view of the tight supply of raw material.
A Hunan-based producer who holds over 100t of antimony ingot in stock is not in a hurry to sell, believing that the price will continue to rise in the short term on the support of tight supply of raw material.
The source concluded a few deals at RMB41,200-41,500/t (USD5,886-5,929/t) ex works in the past week and raised offers to around RMB42,000/t (USD6,000/t) ex works. "Although we have not closed any deals at the increased price, we firmly believe that the price will soon touch such a level," said the source.
According to the source, the supply of raw material, antimony concentrate, turns tighter. Furthermore, with the price of antimony ingot moving up, suppliers also keep increasing the price of antimony concentrate. "We cannot get enough raw material even if we bid RMB30,000 (USD4,286) VAT excluded per metal ton," the source added. The smelter, with a capacity of 200tpm, is operating according to the supply of raw material as well as orders placed by customers.
A Guangdong-based consumer confirmed the price increase of antimony ingot, revealing that most suppliers put their offers at RMB42,000/t (USD6,000/t) ex works against RMB41,500/t (USD5,929/t) ex works seen the end of last month.
The source bought some antimony ingot with prices in a range of RMB40,500-41,000/t (USD5,786-5,857/t) ex works late April and plans to purchase a batch of the material. "It's hard to persuade smelters to sell at prices below RMB41,500/t (USD5,929/t) ex works," said the source, adding that many smelters are holding on better prices considering the tightening supply of antimony concentrate.
Judging from the current situation, the source anticipates higher prices of antimony ingot in the following month. Meanwhile, the source reported that the antimony trioxide price has also experienced an increase during the past two weeks. The mainstream price has risen to RMB37,000-37,300/t (USD5,286-5,329/t) ex works from previous RMB36,500-36,800/t (USD5,214-5,257/t) ex works.