European antimony market consolidating for next run up

BEIJING (Asian Metal) 20 May 08 – As supply remains tight from China, and consumers are out of stock, European antimony market remains at high level. Market participants reported to Asian Metal that they received offers of antimony ingot at above USD6,300/t CIF Rotterdam.
A European trader sold two batches 99.65%min standard grade two antimony ingot last week at around USD6,400/t in warehouse Rotterdam is in touch with another consumers. “I made my offers at a similar price, but the customers had not replied me yet,” said the trader who thinks the consumers have no choice but have to accept high prices now.
According to him, many consumers did not restock in February when the price was close to USD6,000/t and they bought little when the price dropped to around USD5,600/t in March. “No one in Europe expected price to go above USD6,000/t in April, and the consumers are now out of inventory and buying hand to mouth at the moment.”
He disclosed that the lowest offer from China for the May shipment is USD6,300/t CIF Rotterdam for standard grade two antimony ingot, and when consumers start to buy in the near future, it will higher again. “We are consolidating for the next run up.”
Another trader agreed with the previous source. Although he had not made any sale in the passed week, he is optimistic about the future market and believes price will only be firmer in the next two to three weeks. He told Asian Metal that the latest offer he received for May shipment from China is USD6,250/t FOB for standard grade two antimony ingot.