China's antimony ingot prices have surged to around $5,500-5,600/mt FOB China, led by prolonged tight supplies to the export markets, according to industry sources Tuesday. Prices were at $5,400-5,500/mt FOB China in late July and were at around $5,200-5,300/mt FOB China in June.
An official from Beijing Antaike, the state-run nonferrous information provider, told Platts: "Spot deals are said to be done at $5,600/mt FOB China. Chinese supplies for exports remain tight as some producers in Hunan region had cut down production earlier."
According to local industry sources, antimony producers in the Hunan region earlier were required to temporarily stop production due to environmental concerns. Only those larger-scale producers who met the environmental standards set by the local government were allowed to continue production. China's Hunan province is rich in antimony reserves.
The Antaike source added: "Antimony producers in Hunan region are undergoing consolidation, while some producers have just resumed their output. The situation continues to slow export activity as it normally takes half a month to one month to ship the material to overseas consumers."
He, however, expected that prices were "very unlikely to have much room to move up further as it would be too high for overseas consumers."
He added that domestic prices for antimony ingot and antimony trioxide were now quoted at around Yuan 41,000 ($5,406)/mt and Yuan 38,000/mt, respectively.
One Hong Kong-based trader agreed that spot material was recently sold at around $5,600/mt FOB China. "Antimony ingot prices are higher but there is a lack of trade activity as it's difficult to get the spot material for exports," he said.
Meanwhile, an official from Yunnan Muli Antimony Mine said the company is at present offering antimony trioxide at Yuan 38,000/mt ex-plant. "Domestic prices are steady so far," he said. The official added that the company aims to produce 6,000 mt/year of antimony trioxide in 2007.
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