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.
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This article was retrieved from Asian Metals.