Month: July 2021

China’s antimony metal exports fell in May from a year earlier as a result of weaker buying interest from seaborne consumers who opted to operate from stocks.

China exported 554t of the minor metal in May, down by 22pc from 701t in May 2020 and by 35pc from 847t in April, customs data show.

Antimony metal exports totalled 4,397t during January-May, down by 4pc compared with 4,600t a year earlier. A rise in exports during this year’s first quarter, following a sharp fall in 2020, shored up market confidence and pushed antimony prices to an eight-year high in early March. But a slowdown in buying interest then lowered prices since late March. Prices hit a bottom in mid-June and inched up on support from feedstock supply tightness and higher production cost.

Export prices for metal edged up to $9,600-9,800/t fob on 1 July from $9,500-9,800/t fob on 29 June in line with limited spot availability and higher domestic prices. Higher freight costs and a shortage of containers continue to disrupt shipments from China to Europe and the US, tightening spot supply and pushing up prices there.

China imported 5,060t of antimony concentrate in May, up by 5.48pc from 4,797t in April and by 71.06pc from 2,958t in May 2020. Imports totalled 17,822t during January-May, down by 18.8pc from 21,947t in the same period of 2020.

Tight ore availability has forced many smelters in China’s major production hub of Hunan province to cut or suspend output since the beginning of 2021. Depleting domestic antimony resources and higher concentrate feedstock costs continue to prevent smelters from operating at full run rates and have prompted metal producers in June to withhold material from sales because of thin profit margins.

Export prices for antimony metal moved up to $9,500-9,800/t fob on 24 June from $9,400-9,700/t fob on 22 June, in line with higher prices in the domestic market, although demand from the seaborne market remained slow, according to several export firms.