Ministry of Commerce: Hope U.S. to Cancel All Additional Tariffs

G20 offers Hope

BEIJING (Asian Metal) 05 July 19 –

On 29 June, China’s President Xi Jinping met U.S. President Donald Trump, agreeing to restart China-U.S. trade talks on the basis of equality and mutual respect. On 4 July, Gao Feng, spokesman to the Ministry of Commerce, talked about the latest development of China-U.S. trade talks and disclosed that the two nations have been maintaining communication. Gao Feng emphasized that the trade friction was triggered by U.S. unilateral action of imposing additional tariffs, so it must cancel all additional tariffs if the two nations reach an agreement. 

During the meeting of China and U.S. heads, the U.S. promised not to levy new additional tariffs on Chinese goods. In response to this, Gao Feng stated that trade friction should be solved through equal dialogue and consultation at last. China welcomes U.S. decisions on not imposing new additional tariffs which prevent the trade friction from intensifying. China hopes that the two nations could follow important notes made by the two presidents at the meeting, pay attention to reasonable concerns of the other party on the basis of equality and mutual respect and seek for mutual-benefit and win-win solutions to create a stable and foreseeable trading and investment environment for enterprise from both nations and the whole world. It not only satisfies the interests of both nations and people of both nations but also meets the general expectation of the global community.

Gao Feng pointed out that the successful meeting of President Xi and President Trump in Osaka during the G20 Summit clearly showed the direction for the next phase of development of China-U.S. economic trade relations and stirred up positive responses in China, the U.S., and the international community.

Gao Feng also replied to U.S. President Trump’s comments on allowing enterprises to further sell products to Huawei during the G20 Summit, hoping the U.S. could take action accordingly and stop the wrong practices of cracking down on Chinese enterprise by using national power.

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This article was retrieved from Asian Metals.

Spot Prices for Chinese Antimony Ingot Stable at Low Levels

Low and Steady

BEIJING (Asian Metal) 28 Jun 19 – Currently, mainstream transaction prices for Chinese antimony ingot 99.65%min are RMB 38,000 – 39,000/t (USD 5,526 – 5,672/t) EXW D/P, unchanged from late last week. The market has begun to see transactions as of this Friday. A few downstream consumers express willingness to purchase at slightly lower prices, and some suppliers also intend to slightly cut sales prices in order to promote sales. Despite no change in offers from most suppliers, insiders predict that spot prices for Chinese antimony ingot would remain at low levels in the coming week in light of suppliers’ needs to recoup funds.

A trader in Yunnan said, “We now quote antimony ingot 99.65% min at RMB 38,000/t (USD 5,526/t) EXW D/P, the same as that of last week. We haven’t closed any sales so far this week as no order was concluded.” He last sold 20t of the material at RMB 38,000/t (USD 5,525/t) in mid-June. He added that the downstream demand remains weak now but inquiries have doubled compared with last week. He disclosed that, in order to speed up capital turnover, they won’t rule out the possibility of selling at lower prices if their customers make large purchases. The trader is of the opinion that prices for antimony ingot would keep stable at low levels in the coming week.

With a regular monthly trading volume of 120t, the trader expects to see 80t in June, unchanged from last month, holding inventory of about 100t.

A Hunan-based producer said, “We now quote antimony ingot 99.5% min at RMB 38,500/t (USD 5,599/t) EXW D/P, unchanged from last week. We haven’t closed any deals so far today.” HE last sold 20t of the material at RMB 28,500/t (USD 5,599/t) EXW D/P late this week. The producer said, “There is a subtle change in sentiment in antimony ingot market. After Wednesday, our downstream customers became more active in transactions and lowered inquiry prices. But we are still hesitant about lowering prices.” The producer said they would continue to wait on the sidelines. It is expected that spot prices for Chinese antimony ingot would remain at low levels in the following week.

With an annual production capacity of 5,000t, the producer expects to produce 300t in June, unchanged from the prior month, holding no inventory now.

For More Information on Antimony Products

For more information on our antimony products please visit our Flame Retardants page, or you can always give us a call here in the office by visiting our Contact Us page.

This article was retrieved from Asian Metals.