More antimony ingot suppliers increase offers

BEIJING (Asian Metal) 5 Aug 08 – More antimony ingot suppliers increase their offers as they receive more inquiries from trioxide smelters and the supply of antimony ingot becomes very tight.
A Hsikwangshan-based smelter with a monthly production capacity of around 300 tons increased their offers for antimony ingot 99.65%min from RMB37,500/t (USD5,474/t) VAT excluded ex works early last week to RMB38,500/t (USD5,620/t) VAT excluded ex works this week. They concluded 50 tons of antimony ingot 99.65%min at RMB38,100/t (USD5,562/t) VAT excluded ex works early this week and the source believes that the concluded price may increase to RMB38,500/t (USD5,620/t) VAT excluded ex works by the end of this week as many buyers send inquiries to them in order to replenish stocks.
“This year, buyers make purchases to replenish their stocks in advance. I believe it because t hey are afraid that they could not enough materials in the coming weeks under the current production situation of China,” said the source, adding, “I find that more buyers increased their offers with some refusing to
release the metal at present in order to wait for a higher price.”
The source revealed that there are around ten mines having just resumed production but they still could not carry out production in full scale and the product-antimony concentrate may come out in September, which may not release the tight supply of antimony concentrate.
A Guangxi-based smelter and exporter increased their offers for antimony ingot 99.65%min from RMB39,500/t (USD5,766/t) ex works to RMB40,000/t (USD5,839/t) ex works in export market early this week and from USD6,100/t FOB China to USD6,150/t FOB China. They have not concluded any deals so
far this week.
The source confirmed that they could not get enough raw materials to produce antimony ingot. In July, the output was 300 tons out of its production capacity of around 500 tons.
The source believes that the market may continue to go up as the tight supply may not be eased in a short time and there are some consumers from both domestic and abroad are coming back to make purchase. More will come back in the coming weeks as the summer holiday is going to end.