Slow Antimony Market
BEIJING 6 Dec 10 – Current mainstream prices for Chinese antimony ingot 99.85% min stand at RMB 49,500-50,500/t (USD 7,203-7,348) EXW, in line with last week. Dampened by slack downstream demand, most consumers wait on the sidelines. With few deals seen in the spot market, insiders believe Chinese antimony ingot 99.85% min prices would move downward in the coming week.
A Hunan-based consumer claimed, “Our suppliers currently quote antimony ingot 99.85% min at RMB 50,000/t (USD 7,275/t) EXW, in line with last week. We have no plan to purchase this week as we only purchase based on rigid demand and our stockpile remains relatively sufficient.” The source noted they last purchased 150t at RMB 50,000/t (USD 7,275/t) in the middle of last week. In light of lackluster demand from their downstream clients, they now make a purchase every one to two weeks. To avoid enlarging the stocks. According to the source, some producers have already marked the price down to RMB 49,500/t (USD 7,203/t). The consumer believes that the price would drop by RMB 500/t (USD 73/t) in the coming week.
Based on a consumption capacity of 8,000 tpy for antimony ingot 99.85% min, the consumer expects to consume 500t in December, in line with last month. They currently hold about 100t of stocks.
A Guangdong-based trader noted, “We currently offer antimony ingot 99.85% min at RMB 49,500/t (USD 7,203/t) EXW, in line with last week. We received no inquiries this week amid the sluggish demand.” The source disclosed they last sold 5t at RMB 52,000/t (USD 7,566/t) in mid-November. They haven’t closed any deals in the past two weeks. He believes that the price for material would slip by RMB 500/t (USD 73/t) in the coming week.
With a regular monthly trading volume of 30t for antimony ingot 99.85% min, the trader expects to sell 25t in December, unchanged from last month. The currently hold 60t of inventory.
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This article was retrieved from Argus Metals.