BEIJING (Asian Metal) 7 Mar 07 - Antimony Indian spot market continues one more day dull and almost without activity, but this weak demand has not left traders fearful as they consider that market would come back at the end of the Indian fiscal year.
At close, Indian spot market quoted antimony 99.65%min CIF Mumbai at USD5,400-5,500/t and INR300-310/kg for the local market.
“ I closed a deal of 10t of antimony 99.65%min at USD5,500/t CIF Nhava Sheva,” a trader source commented, “and I have not more inquiries. Manufacturers are holding off on placing orders at the moment, taking a wait-and-see attitude.”
“It’s generally a very quiet period now but I think we could see a slight increase in demand as consumers are planning their stocks for the next quarter,” stated a second trader, “But on the other hand participants are waiting to the end of the tax year to come back to spot business, so we could see some signs of a long-awaited improvement in the market.”
For another major trader, Indian demand and prices had remained steady but he thinks the situation would change soon because Indian ecomony is growing, especially in the IT sector. “Now Chinese participants are trying to raise the price for antimony by around USD50-100/t and Indian consumers would not accept this increase,” continued the source, ‘But the material is important for our growth and we would have no other option but to adapt to it.”
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