European antimony marketers receive higher quotations

BEIJING (Asian Metal) 6 Aug 08 – Due to the tight supply from China, European market participants reported to Asian Metal that they received higher offers in the last few days.
A European trader told Asian Metal that the latest offer he received was earlier this week at USD6,550/t CIF Rotterdam August shipment for 99.65%min low bismuth grade two antimony ingot. Comparing to the offer from the same supplier two weeks ago, the source disclosed that the price had increased by USD300/t.
“It is strange that the price is going up at this time of the year, because summer is a time price would decrease.” According to the trader, many market articipants are on summer holidays, and European antimony market is quiet. “I thought the price would drop by USD100/t at the beginning of last, but the Olympic Games has more effect to the market than I expected.”
Another trader also received higher quotations that he received 99.65%min standard grade two antimony ingot in the range of USD6,400-6,500/t CIF Rotterdam. “My suppliers told me that the raw material is really difficult to get due to the restricted control of explosives.”
The trader holds that market is not active due to the summer holiday, and it is hard to price to go higher. “Major consumers would be reluctant to accept the current price, so we should expect higher prices in the end of August or early September, but not now.”