[+/-] : Antimony ingot price stable in Russia

Some antimony consumers in Russia return to the spot market in succession to purchase for the production next quarter. However, most buyers are holding watching attitudes due to the high price. Few deals are concluded this week. The price of antimony ingot 99.65%min remains stable in the range of RUB200-205/kg (USD8,123-8,326/t), unchanged compared with that one week ago.
A Russian antimony ingot producer, with the production capacity of 120tpm, attributes the high price in Russia to the climbing price in the international market. The source said that price increase of antimony ingot in China contributes to that in European. In turn, the price increase in Europe leads to the rise in export and domestic price in Russia.
The source offers RUB205/kg (USD8,326/t) d.d.p. for antimony 99.65%min, the same as that one week ago. However, no deal has been concluded this week. "Though we received more inquiries this week, most buyers are just testing the market without real intention of buying," he said. Most buyers cannot accept the current high price and purchase inactively, so he plans to lower the price. He thinks that the price will go down in a short term.
AA trader in Russia reported as for the market trend, most traders are confused, so they hold the watching attitudes at present due to the price hike in the local antimony market. Thus, the market supply reduces relatively and the price runs in a high level. The source purchases around 60tpm of antimony 99.65%min.
The source currently quotes RUB208/kg (USD8,448/t) d.d.p for antimony 99.65%min this week. However, some traders have reduced the price in order to reach a deal. The market keeps dim, for consumers cannot accept the high price. Therefore, the source believes that price of antimony will go down in a short term.

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[+/-] : European antimony market quiet this week

As European buyers are scared of the high price of antimony, European market had been quiet this week.
AA European trader told Asian Metal that he received offers from China earlier this week at USD6,580/t CIF Rotterdam for 99.65%min standard grade two antimony ingot and USD6,700/t CIF for low bismuth material. Both offers are for end of September shipment.
He opines that there is little stock in Europe at the moment, and no shipment from China before end of September. According to him, there were some activities in the last two weeks but market calm down again this week. "People are reluctant to the high prices."
The trader holds that the high price would be temporary for the next two to three months, so the consumers would not change to substitute. "USD7,000/t is still acceptable for the current antimony market, but if it continues going up to USD8,000-10,000/t, then we will see people leave antimony for other products," the source remarked.
Another trader confirmed the price of 99.65%min low bismuth grade two antimony ingot in offered to him at USD6,700/t CIF Rotterdam, and about USD6,800/t in warehouse Rotterdam. "But consumers are not willing to buy at the current prices," said the source who also had not concluded any deal this week.
He believes antimony price will continue increasing in the next one month due to the tight supply from China and increasing demand in Europe after more consumers come back to offices. "Price may reach USD7,000/t very soon."
The source learned that Chinese government increased export duty for some material from middle of the week, and he told Asian Metal that there maybe less smuggled material in market now, which is another reason for the tight supply. "I heard people talking about higher profit to smuggle ferroalloys and coke because the export duties are as high as 20% and 40%, and antimony is only 5%."

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[+/-] : European antimony market raging higher

20 Aug 08 – In the last two weeks, antimony prices continue rising fast in Chinese export market. Many European market participants hold that price will increase further in the coming days.
A European trader told Asian Metal that price of antimony are offered in wide range of USD6,600-6,800/t CIF Rotterdam for 99.65%min standard grade two antimony ingot, and material with higher purities are offered at close to USD7,000/t CIF Rotterdam. "This is a clear trend that price will break USD7,000/t for all grades antimony ingot very soon."
He takes that price of antimony metal will increase further if the Chinese suppliers want to do so. "The world antimony market is controlled by Chinese supply in the last two years. Price will go up if they really want to," the trader said and thinks it is difficult for the consumers switch to substitute. "Price had been going up since the beginning of 2005; consumers would be already switched to alternatives."
Another trader disclosed that the current offer for 99.65%min standard grade two antimony ingot is in the range of USD6,750-6.800/t in warehouse Rotterdam. "I was on holiday last week, and price increased by almost USD200/t," the source remarked, and regretted that he had not the offers at USD6,600/t in warehouse Rotterdam before he went on holiday.
He supplies material to antimony-lead battery producer in Europe. "Most of them are still in holiday, such as people in Spain, Italy and France, but I am sure that they would be surprised at the high prices when they come back to office." The source holds that there is no effective alternative for the consumers, so they have no choices but have to accept high offers. "Moreover, most of them do not have stocks now," the trader added.

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[+/-] : Antimony ingot price keeps rising in Russia

According to the participants, although there were fewer deals in antimony market of Russia during summer holidays, the price increased in Russian market as at the same time, the antimony ingot prices rose in China and Europe due to the tense supply in China and the local suppliers in Russia received more inquiries. This week the price of antimony ingot 99.65%min increased to RUB195-200/kg (USD 7,985-8,190/t) d.d.p., by RUB10/kg (USD410/t)'s from RUB185-190/kg (USD7,575-7,780/t) last week.
AsA supplier in Russia said, the local spot market was active this week, with more inquiries from the purchasers due to the price rising of antimony ingot in the world market. The source produces 150-200 tons per month, among which, about 80 tons are exported to other European countries, and the rest are sold to the local spot markets. The source also revealed, currently, their offer for antimony ingot 99.65%min for exports is USD6,800/t CIF Rotterdam, unchanged from last week; however, offers for the domestic market has risen from RUB195/kg (USD 7,985/t) last week to RUB205/kg (USD 8,395/t) this week. The source also disclosed that, as participants should pay for18% of value added tax in local market, the price in domestic market is much higher than the export price.
The source sold 10 tons of antimony ingot 99.65%min at USB198/kg (USD8,108/t) d.d.p. "The antimony price increased in China due to the tight supply of antimony concentrate and antimony ingot, and as most antimony ingots in Russia are imported from China, the local antimony ingot price increases accordingly." he said.
The source believes, the antimony ingot price in Russia is likely to increase up to RUB220/kg (USD9010/t) before the summer holidays ends at the end of August, and is probably to rise up to USD7,000/t in Europe.
A trader in Russia received an offer for antimony ingot 99.65%min of USD6,800/t CIF New Siberia from Chinese suppliers, USD100/t's higher than USD6,700/t of last week. The source said, at the moment, the price for antimony ingot 99.65%min is at around RUB200/kg (USD8,190/t) in the local spot market, up by RUB10/kg from RUB190/kg last week.
The source holds, the main reason for the price increasing of antimony ingot is the export price increasing in China due to the tight supply of antimony concentrate; and as most traders in Russia purchase antimony metal from China, the import price for the materials increased and thus the local price went up accordingly.

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[+/-] : European antimony prices skyrocketing

As supply continues to be tight in China, European antimony market prices rise fast.
A European trader told Asian Metal that antimony price continues to increase in European market that the new offers of 99.65%min low bismuth grade two antimony ingot is in the range of USD6,550-6,600/t CIF Rotterdam, and he booked some material in the lower end of the range.
AAccording to him, there is one peculiar phenomenon that some Chinese traders look for material from European market, which he believes the material in China is almost exhausted. Moreover, high grade material is extremely difficult to find as people do not have stock or are not willing to make offers. He helped a Chinese trader booked a parcel of 99.8%min grade one antimony ingot at USD6,950/t in warehouse Rotterdam for delivery in beginning September.
He takes that the price will continue to increase because the shortage of material, and price may break USD7,000/t when demand increase in end of August or beginning of September.
A European consumer received offers in the range of USD6,500-6,600/t CIF Rotterdam for 99.65%min low bismuth grade two antimony ingot. He disclosed to Asian Metal that he bought material in advance because he thought price would go up higher during the Olympic Games.
AThe source holds that there are few activities in the market, which were initiated by traders so the price could keep at the high level. According to him, many people are still in summer holiday, and it is unlikely to have real demand in Europe. "Price may keep at the currently level during Olympic games."

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[+/-] : European antimony prices skyrocketing

13 Aug 08 – As supply continues to be tight in China, European antimony market prices rise fast.
A European trader told Asian Metal that antimony price continues to increase in European market that the new offers of 99.65%min low bismuth grade two antimony ingot is in the range of USD6,550-6,600/t CIF Rotterdam, and he booked some material in the lower end of the range.
According to him, there is one peculiar phenomenon that some Chinese traders look for material from European market, which he believes the material in China is almost exhausted. Moreover, high grade material is extremely difficult to find as people do not have stock or are not willing to make offers. He helped a Chinese trader booked a parcel of 99.8%min grade one antimony ingot at USD6,950/t in warehouse Rotterdam for delivery in beginning September.
He takes that the price will continue to increase because the shortage of material, and price may break USD7,000/t when demand increase in end of August or beginning of September.
A European consumer received offers in the range of USD6,500-6,600/t CIF Rotterdam for 99.65%min low bismuth grade two antimony ingot. He disclosed to Asian Metal that he bought material in advance because he thought price would go up higher during the Olympic Games.
The source holds that there are few activities in the market, which were initiated by traders so the price could keep at the high level. According to him, many people are still in summer holiday, and it is unlikely to have real demand in Europe. "Price may keep at the currently level during Olympic games."

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[+/-] : Antimony market jumps in China

Influenced by tight supply of raw materials, the antimony market firms and jumps early this week.

A Guangxi-based antimony smelter increased their offers for grade two antimony ingot from RMB39,500/t (USD5,758/t) ex works early last week to RMB41,000/t (USD5,977/t) ex works early this week, up by RMB1,500/t (USD219/t). The source revealed that the concluded price for low bismuth grade two antimony ingot is at RMB39,000/t (USD5,685/t) VAT excluded ex works up from RMB38,000-38,200/t (USD5,539-5,577/t) VAT excluded ex works early last week. The concluded price for high bismuth materials is at RMB38,000/t (USD5,539/t) VAT excluded ex works.

The smelter has concluded around 100 tons of antimony ingot at RMB40,000-41,000/t (USD5,830-5,977/t) in the first ten days of August. "Buyers only purchased 50-60 tons each time as they must be cautious when price is increasing."

They also increased quotations for antimony trioxide 99.5%min to RMB38,000/t (USD5,539/t) ex works early this week up from RMB36,500/t (USD5,320/t) ex works two weeks ago. The smelter would not increase their offers this week as they believe the price is relatively high and it will take some time for consumers to accept it. They believe that the market may continue to go up after the summer holiday when buyers come back to make purchases.

A Hunan-based smelter quoted RMB43,000/t (USD6,268/t) ex works early this week, up from RMB42,500/t (USD6,195/t) ex works last week, by RMB500/t. They have concluded deals at around RMB41,500/t (USD6,050/t) ex works in the beginning of August when prices have not reached to the current level.

The source also quoted USD6,500-6,600/t CIF Rotterdam early this week, up by USD100/t from USD6,400-6,500/t in the beginning of August. The source stated that they may not quote this week as they do not have enough materials to provide to the buyers.

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[+/-] : Antimony consumers buying at high prices

As most consumers have failed to get enough antimony ingots in the recent two weeks, the price of antimony ingot and antimony trioxide increases continuously.
AA Hunan-based smelter with a monthly production capacity of around 400 tons concluded a deal of around 20 tons of antimony trioxide 99.5%min at RMB37,500/t (USD5,466/t) (freight included) early last week and they increased offers to RMB38,000/t (USD5,539/t) (freight included) late last week.
The source stated that many buyers send inquires for relatively large quantities of around 100-200 tons to them and they dare not sign the contract with buyers because they could not get enough materials to produce antimony trioxide.
The smelter quoted RMB42,000/t (USD6,122/t) (freight included) for antimony ingot 99.65%min early last week and they increased offers to RMB43,000/t (USD6,268/t) (freight included) late last week. One of their clients found the price high and did not accept it. "As the antimony ingot supply is very tight, we are going to increase offers for the metal further."
AThe source revealed that there are few of antimony concentrate in the market; however, demand is weak as most plants have been shut down. The source believes that the market may go up further in the near term by the end of August and after the summer holiday finishes, when buyers comes back, how the market go depends on how much price the buyers could accept as the tight supply may not ease within one month.
A Shanghai-based trader confirmed that their supplier quoted RMB42,000/t (USD6,122/t) (freight included) for antimony ingot 99.65%min and RMB38,500/t (USD5,612/t) (freight included) for antimony trioxide 99.5%min, but they could not accept it.
AsThey heard that some exporter concluded 20 tons of antimony trioxide 99.5%min at USD5,500/t FOB China and buyers only sent small-volume inquiries of 10-20 tons each time.

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[+/-] : Antimony ingot suppliers refuse to sell in China

As a large proportion of antimony smelters have suspended production because of the lacking of raw materials, those who are still in production and hold a considerable amount of stocks do not want to release the metal to the market.
A South China-based smelter with a monthly production capacity of around 300 tons stated that they increased offers for antimony ingot 99.65%min from RMB39,800/t (USD5,819/t) ex works last week to RMB40,800/t (USD5,965/t) ex works early this week. The source works in a state-owned plant that will suspend the production in a few days' time for furnace maintenance.
"The supply of antimony ingot becomes tighter because of the government's stricter control on the explosives as the Olympic Games is in a week's time," said the source, continuing, "Therefore, we increase the our offers and in fact we do not want to release the metal at the current price level. If buyers could accept the increased price, we would conclude the deal."
The source believes that the market may continue to go up by the end of the Olympic Games as there are very few quantities of antimony ingot coming out of Lengshuijiang region - the major antimony production region in China. Besides, the market becomes a little active than that in the past several weeks because there are some consumers making purchases to replenish stocks at the time.
Another South China-based smelter with a monthly production of around 300 tons confirmed that they increased their offers for antimony ingot 99.65% too, from RMB37,500-37,800/t (USD5,482-5,526/t) ex works VAT excluded to RMB38,000-38,500/t (USD5,556-5,629/t) ex works VAT excluded.
The source stated that more buyers sent inquiries this week and the supply of antimony ingot becomes very tight. "We do not plan to release the metal as the market is picking up and we want to wait for higher prices."

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[+/-] : Antimony smelters increase their offers in China

Some antimony suppliers increase their offers due to the tight supply of antimony concentrate.
A Lengshuijiang-based smelter with a monthly production capacity of around 400 tons reported a deal of grade two antimony ingot of RMB39,800/t (USD5,819/t) ex works in the beginning of last week and another deal of RMB40,500/t (USD5,021/t) ex works in the end of last week. The source puts the mainstream price of grade two antimony ingot at RMB40,300-41,000/t (USD5,892-5,994/t) ex works this week.
The source that has their own mine stated, "We increased offers in the end of last week because the output of antimony ingot reduced by around two thirds caused by the output reduction of raw materials by 50%." He estimated that there are around 80 antimony ingot smelting plants in Lengshuijiang area with 50% of them suspending production and around 25% of their outputs reducing to lower than 50%. Therefore, he believes that the supply of antimony ingot may become tight in the near future and the market may pick up after the summer holiday if buyers come back to make purchases actively.
The source believes that the market may increase further in the recent two weeks. He explained that more plants may suspend the production as they are going to use up the inventories of raw materials so that the supply of both antimony concentrate and antimony ingot may become tighter. In addition, there are some buyers making some purchases to replenish stocks.
Another Lengshuijiang-based smelter with a monthly production capacity of around 300 tons confirmed that they increased their offers from RMB37,500-37,800/t (USD5,482-5,526/t) VAT excluded ex works in the beginning of last week to RMB38,000-38,500/t (USD5,556-5,629/t) VAT excluded ex works. They have already concluded a deal at RMB38,500/t (USD5,629/t) VAT excluded ex works early this week.
The source explained, "We received relatively more inquires from buyers and the antimony ingot supply becomes tighter and tighter recently as many smelters like us have reduced the output reluctantly because we could not get enough raw materials." The output of the smelter has been reduced by 50% to around 150 tons.
The source revealed that they have heard a deal concluded at RMB41,000/t (USD5,994/t) ex works and he believes that the market may increase further as the supply of antimony concentrate may become tighter. They will suspend the production around several days later because they have used up the raw materials.

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[+/-] : Magnesium ingot price goes down in Russia

Market sources said that although Russian magnesium market becomes a little active this week, the price which buyers could accept is still very low at around RUB165/kg (USD7,042/t) d.d.p.. Some suppliers begin to sell the materials at low prices due to stock pressure. The mainstream price of magnesium ingot drops to RUB165-170/kg (USD7,042-7,255/t) from RUB170-175/kg (USD7,255-7,469/t) last week.
A Russian trader sold a small batch of magnesium ingot at RUB168/kg (USD7,170/t) d.d.p. this week. The source said that they lower the offer of magnesium ingot to RUB170/kg (USD7,255/t) from RUB175/kg (USD7,469/t) last week due to high stockpile and cash shortage.
"Some local suppliers are afraid of the price drop and sell the materials at low price one after another. I heard that a small amount of deals are concluded at RUB163-165/kg (USD6,957-7,042/t) in the spot market," said the source.The source thinks that the magnesium price may drop slightly in the short term and then keep stable, as the supply of magnesium is not enough in the market."Currently the spot market is in disorder. Traders offer the material ranging from RUB163/kg (USD6,957/t) to RUB175/kg (USD7,469/t)," said another trader in Russia. He said that they hold no stockpile on hand, but they have no intention of supplementing stocks due to the confusing market of magnesium. The source said that the magnesium ingot price may not drop sharply in the short term as the materials they purchased were at high price.

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[+/-] : Magnesium ingot market in a bad mood

Magnesium market is in a bad mood after price reached around USD6,000-6,100/t in warehouse Rotterdam at the middle of June and suddenly started to slide, and this week sources in Europe told Asian Metal that they can buy material at around USD4,400-4,500/t in warehouse Rotterdam while offers from Chinese suppliers are at around USD4,200/t FOB China.
Prediction in the market now is that price will continue to go down as demand of magnesium all over the world remains scanty and bearishness in the market will last since many consumers confirmed plenty material in their possession.
According to a European trader who told Asian Metal that he sold material last week at USD4,420/t in warehouse Rotterdam, all signs show that price will still go down further because there are some Chinese suppliers holding plenty material and will likely to get rid of them because of the decreasing price.
"Chinese suppliers will find it difficult to increase the price again in a short time," said the source. "I am not saying they can not do it, but it will take sometime."
Another European trader agreed that it may take up to end of the year to see the price of magnesium going up again because plenty material in the market will not allow a sudden price increase.
"None of my customers want to buy now," said the source. "All of them are saying they have material and will buy again probably at the end of the year." The source predicted that price may go below USD4,000/t FOB China before end of the this quarter.

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[+/-] : Manganese flake market summary Jul 28-Aug 1

4 Aug 08 - Manganese market falls down in the week after a temporarily rebound to over RMB21,000/t (USD3,070/t) ex works. Sources reported to Asian Metal that more buyers went away from the market when the price went up and demand from downstream stainless steel mills remains dull for the moment. Sources are not so optimistic now.
The price fell down from the highest level of around RMB21,200/t (USD3,099/t) ex works to almost RMB20,000/t (USD2,924/t) ex works. Few buyers are purchasing at the moment while many foreign participants are still on vacation and there is also large stocks there. Some participants lowered their prices to around RMB20,300/t (USD2,968/t) ex works late in the week but others are reluctant to sell at such low prices.
The power supply in some areas remains tight and the manganese production is below capacity. And many small-sized smelters have already been out of production for long. But compared to the low demand, the supply remains sufficient. However, some smelters reported that the supply of raw materials is also tightening which hampers the normal production. As a result, some smelters with low stockpiles at hand insist on higher prices of around RMB20,500/t (USD2,997/t) ex works though few deals are concluded. Suppliers believe that this is the worst time for the market and they hope more buyers would be back to the market in late August or early September and the price should be around RMB21,000/t (USD3,070/t) ex works.
Export market also falls down with few buyers eager to purchase now. The tax adjustment comes out on July 31st but has little influence on the manganese exportation. Some participants are afraid the price might go lower in the coming weeks. Some briquette suppliers lowered their offers to around USD3,250/t FOB again from USD3,400-3,500/t FOB but some others are still very cautious as they usually attach the items to the long-term contracts and if the government changes the export duty, the price should be negotiated one more time. Manganese flakes price also decreased to USD3,950-4,000/t FOB accordingly.
However, the price in warehouse Rotterdam is a bit higher at around USD4,100-4,200/t for the moment but few consumers are purchasing. Sources are not quite confident about the market in August and the price might go down again in the coming weeks.

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[+/-] : Some magnesium producers reduce output on sluggish market

More magnesium smelters especially in South Shanxi reduce output or even halt production due to the continuously sluggish situation, market sources reported to Asian Metal today.
"We reduced production by 2/3 in the middle of July," said a producer in Jiang county, Shanxi Province whose capacity of magnesium ingot expanded from 10,000tpy early this year from previous 3,000tpy.
"As demand has kept weakening, and prices have also been in decline, we have to reduce our output," said the source. With some materials in stock, the smelter refuses to sell any materials at prices below RMB26,000/t (USD3,807/t) ex works which is said to be its production cost. However, the source has no confidence in seeing a better market in August in view of the weak demand.
Meanwhile, the source revealed that some smelters nearby have already shut down due to either environmental problems or the bearish market.
Another smelter in Shanxi's Wenxi county, with a capacity of 600tpm, halted production in early July. "In the light of current prices of raw materials, the production cost of magnesium ingot should be at least RMB26,000/t (USD3,807/t) ex works in South Shanxi," said the source. "However, few smelters can obtain such a price for now." Therefore, the source has no plan to restart in the short term.
The source learnt that the magnesium ingot market continues to worsen and more smelters have begun to sell at prices of RMB25,300-25,500/t (USD3,704-3,734/t) ex works. "We heard that some small smelters undersold materials at a price as low as RMB24,500/t (USD3,587/t) ex works when cash was urgently needed, but we could not confirm such a low price," said the source.
The source also holds a pessimistic attitude towards the future market, believing that the price will probably drop to RMB24,000/t (USD3,514/t) ex works or lower levels soon.

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[+/-] : Magnesium ingot export prices down further

1 Aug 08 – The magnesium export price goes down further due to lack of consumer demand. Suppliers worry that the price may continue to slip in August when most European buyers are absent for summer holidays.
A Shanxi-based smelter has not concluded any export deals since early July and reported that only two or three tentative inquiries have been received. "We don't bother to make offers as we're aware that foreign buyers have no intention of buying," said a sales executive from the smelter.
The source offered at USD4,500/t FOB Tianjin last week without any deals concluded and reported that most suppliers have decreased offers to USD4,300-4,400/t FOB this week. However, the source revealed that little activity is seen in the export market.
Meanwhile, the source reported that the domestic market also remains dull with prices sliding down slowly and steadily. It is hard for them to sell magnesium ingot at RMB25,800/t ex works for now. The smelter is running at less than half of its capacity of 10,000tpy at the moment.
A Beijing-based trader confirmed the sluggish market for export and was surprised to receive a counter bid as low as USD3,800/t FOB China made by a Korean buyer. "Such a bid is far lower than USD4,300/t FOB China, which is the lowest price we can accept now," said the source.
The source reported that demand from Europe, Japan, Koran and India is very weak. Many dealers have ceased buying as their customers do not place orders with them.
A major Ningxia-based producer echoed that few foreign buyers are in the market. The source has reduced offers from USD4,400/t FOB early this week to current USD4,300/t FOB, but buyers still show no interest.

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