28 Jul 08 - Little activity is seen in antimony ingot market in China, though some producers raised offers slightly in mid-July. Market sources reported that demand is still not strong, which affects their ability to lift offers further.
A major Hunan-based producer, with a capacity of around 300tpm, sold a batch of antimony ingot at RMB40,300/t (USD5,900/t) ex works last week, RMB300-400/t (USD44-59/t) higher than the previous deal in mid-July. However, the source reported that demand keeps inactive, and few deals have been concluded during the past two weeks.
The source revealed that a considerable quantity of antimony ingot was smuggled via Guangxi to Vietnam and then to the international market. "With prices in international market hard to move up, it is impossible for the Chinese domestic market to improve greatly," said the source.
Meanwhile, the source revealed that the supply of antimony concentrate will keep tight during the Olympics owing to the regulations on explosives. The source takes it as one of the main reasons that the antimony ingot price will keep stable under the slack market situation.
A Guangdong-based trader revealed that the antimony products market is generally flat despite slightly higher prices of antimony ingot. "Our supplier in Hunan raised their offers of antimony trioxide in the name of higher prices of antimony ingot," said the source. "However, we have not seen any improvement in the market for both antimony ingot and trioxide."
The source learnt that some smelters put their offers at RMB37,800-38,000/t (USD5,534-5,564/t) VAT excluded for antimony ingot used for the production of antimony trioxide, RMB200-300/t (USD29-44/t) higher than those a week ago, but the source does not think the price of the metal will rise further given the fact that the antimony trioxide market remains dull. "It's hard to sell at prices higher than RMB36,000/t (USD5,271/t) ex works for antimony trioxide 99.5%min without famous brand," the source added.
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