China's antimony ingot prices have continued to hold steady at around $5,200-5,300/mt FOB China, China-based industry sources said on Tuesday, adding that prices had been capped by slowing demand.
An official from Beijing Antaike, the state-run nonferrous information provider, told Platts: "Ingot prices in China are now offering at around Yuan 40,000-41,000 ($5,226-5,357)/mt ex-plant," he said. "Both domestic and overseas demand has slowed due to prolonged high prices. Consumers are not buying much as some people are expecting prices may move down in the future should overseas demand continue to slow further."
One Hong Kong-based trader agreed that spot trade remained lackluster in China. He said: "Export prices are holding steady at around $5,300/mt FOB China. There is not much activity going on lately."
Latest figures from China's General Administration of Customs showed exports of unwrought antimony, waste and scrap during the January-April period dropped 57.2% year on year to 2,504 mt. Their value was also down 40.5% to about $11.75 million. The Antaike source added: "Reduced exports during the period are mainly due to continued high prices."
Meanwhile, an official from China's Yunnan Muli Antimony Mine, which produces about 6,000 mt/year of antimony trioxide, said: "Those smaller smelters in China may find it hard to make profits as prices for antimony concentrates remain high while ingot prices are steady but may see a downward trend soon." He added that tight antimony concentrate supplies in China had continued to firm the raw material prices. – Platts
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