[+/-] : European antimony market unlikely to fall

Because antimony is in tight supply and the reason behind is explosive control from Chinese government, many European market participants believe price will not decrease in the coming few months.

A European trader sold a container of 99.65%min standard grade two antimony ingot in the end of last week to a central European consumer at USD6,520/t in warehouse Rotterdam with less than 30-day payment terms. He holds that there is still not much prompt material available in warehouse Rotterdam.

He revealed to Asian Metal that the lowest offer received from China was USD6,450/t CIF Rotterdam last week, and he had the feeling that the Chinese producers are not willing to sell the material.

The trader takes that the demand in Europe is lower than the same period of last year because consumers are not willing to accept high prices, and they wait to the last kilogram of their stock before they come to market. However, with the Chinese low supplies, he is convinced that price will continue to surge.

Another European trader holds that the mainstream price for 99.65%min grade two antimony ingot with bismuth content less than 100ppm is selling in the range of USD6,450-6,500/t in warehouse Rotterdam, and standard grade two antimony ingot is selling at USD6,400-6,450/t in warehouse Rotterdam. According to him, the new offers from China, on CIF basis are about USD70-80/t, including port fee and bank interest, cheaper than the price of material in Rotterdam for prompt release.

He holds that demand is reasonable in Europe, and Chinese governmental control of explosives will keep supply tight through the summer. Although many consumers threaten to leave antimony market for substitute, the trader believes it will not happen easily in short term. Therefore, price of antimony will remain in a high level in the third quarter of 2008, and fall in the end of the year....
read more

[+/-] : Chinese antimony market climbs up slightly

The price of antimony ingot climbs up slightly with most of the deals concluded at around RMB42,000/t ex works early this week. However, suppliers still receive few inquiries from domestic buyers.

A Jiangxi-based smelter with a monthly production capacity of around 100 tons concluded around 20 tons of regular grade-two antimony ingot at RMB42,000/t ex works last week and another 20 tons at RMB41,500-42,000/t two weeks ago.

The source puts the mainstream price of regular grade-two antimony ingot at RMB42,000-RMB42,500/t early this week, up from RMB41,500-42,000/t last week. "The price seems to go up slightly this week, while we still receive few inquiries currently. We are not sure to what extent it will increase on a current market situation."

A South China-based trader concluded a small-volume deal at the price a little bit higher than RMB42,000/t last week. "Even though the price continues to go up, inquiries from buyers remain few," said the source.

Another South China-based smelter with a monthly production capacity of around 200 tons has not concluded any deals for about two weeks due to low inquiries from buyers. However, he puts the mainstream price of regular grade-two antimony ingot at RMB42,000-42,500/t. "Most of the deals were concluded at around RMB42,000/t and quotations from suppliers have already reached RMB42,300-42,500/t last week."...
read more

[+/-] : Suppliers expect higher antimony prices

As the European spot market continues to strengthen and raw material supply keeps tightening in China, suppliers expect higher prices of antimony ingot in the short term.

A Hunan-based producer who just sold some antimony ingot at RMB42,000/t (USD6,000/t) ex works holds a positive attitude towards the market. The source revealed that as the government is enhancing the control of dynamite used in mining, raw material supply goes tighter. Therefore, the antimony ingot price will not move down in a short time. Additionally, psychological factors are also help market sentiments keep high. "As long as the market runs high in Europe, Chinese suppliers will not allow the price to decrease easily," said the source.

The smelter is running with an output of around 300tpm and holds a small quantity of stocks on hand. The source revealed that the prevailing price was at around RMB41,500/t (USD5,929/t) ex works last week.

A Shanghai-based trader also predicts that the antimony ingot price may move up further in the near future, though demand in domestic market is not very strong.

"The antimony price in Europe continues to rise, which stimulates producers to quote higher prices," said the source, adding that the offer received yesterday was as high as RMB42,300/t (USD6,043/t) ex works, RMB500/t (USD71/t) higher that at the beginning of this week.

"Our suppliers told us that as the raw material supply keeps tight, they may raise offers again in the near future," said the source, worrying that the antimony ingot market will keep at a upward trend before Olympics....
read more

[+/-] : Antimony prices hold high

BEIJING (Asian Metal) 4 May 08 – Supported by the high price in European spot market, antimony ingot price keeps firm in China. The tight supply of antimony concentrate is also considered as one of the factors leading to the strong market.
"As Chinese government is enhancing the control of dynamite for safety concern, many small mines were forced to close, and thus the supply of antimony is tightening," a Hunan-based antimony ingot producer said. "Therefore, antimony ingot producers insist on high offers of the material for fear that they cannot get enough raw material for production in the following two months."
The source, who concluded a few deals at RMB38,000-38,100/t (USD5,429-5,443/t) VAT excluded for standard grade-two antimony ingot, is currently offering RMB38,300/t (USD5,471/t) VAT excluded for the material.
The smelter is operating according to antimony concentrate obtained and holds 50-60t of antimony ingot in stock. With an optimistic attitude towards the future market, the source is not hurried to sell at the moment.
Another trader from East China also attributed the firm price of antimony ingot to the short supply of raw material. Additionally, the strong market in Europe also strengthens Chinese producers' confidence about a bullish market.
The source reported that many producers are holding on for higher prices and thus he has difficulty replenishing stocks at a reasonable price. "Some producers quote as high as RMB42,000/t (USD6,000/t) ex works for standard grade-two antimony ingot," said the source who put the mainstream price at RMB41,000-41,300/t (USD5,857-5,900/t) ex works.
Confirming that the raw material supply is getting tighter owing to the control of dynamite, the source predicted that the market would keep at the current high level in the near term....
read more

[+/-] : Antimony trioxide export prices up

BEIJING (Asian Metal) 5 May 08 - Stimulated by higher production cost and the appreciation of Chinese currency, suppliers raise export offers of antimony trioxide to USD5,350-5,400/t FOB Chinese main ports from USD5,300-5,350/t FOB seen late April. Meanwhile, products with famous brand such as Twinkling Star are being offered at USD5,450-5,500/t FOB, market sources reported to Asian Metal.
A Guangdong-based trader raised export quotation to USD5,400/t FOB for antimony trioxide 99.5%min without famous brand whereas the previous deal was concluded at USD5,250/t FOB two weeks ago. The source reported that the main reasons for the price adjustment are higher purchase cost and also the depreciation of US dollar.
The source reported that demand keeps moderate from overseas market and the company exports 100- 150t of the material every month. However, the source acknowledged that many buyers are scared away by the price jump and plan to watch for a while before purchasing.
A Hong Kong-based trader also reported that the export price of antimony trioxide has been on the rise in line with the increasing market of antimony ingot. Offers received after the May Day holiday were at USD5,350-5,400/t FOB for products with common brand while the famous-branded materials were offered at USD5,450-5,500/t FOB, nearly USD100/t higher than the offers late April.
"We were told that the material is sold at RMB36,500-37,000/t (USD5,214-5,286/t) ex works in Chinese domestic market, and that's why suppliers lifted offers to USD5,400-5,450/t FOB," said the source. As the antimony ingot market is showing signs of rising further on the tight supply of antimony concentrate, the
source thinks that the antimony trioxide price will also keep at the upward trend in the near term....
read more

[+/-] : China antimony market: Weekly comment--May Day holiday

After several weeks of slack in trade, China local antimony market is returning to a balance due to rising demand and supply shortage in antimony ore.

Recently small-scale antimony plants in Hunan Province have stopped operation. As a result, a decrease in production has led to a certain stabilization of antimony prices.

Besides antimony producers began to build inventories before May Day holiday.

However, despite the firmer demand, traders made few deals this week as most of antimony ingot manufacturers are waiting for higher prices.

In the previous week, tax-inclusive price of the No2 antimony ingot on Chinese domestic market was RMB41,500 per metric ton. Antimony trioxide was quoted at RMB37,000-37,500 per metric ton.

...
read more

[+/-] : European antimony market keeps increasing

Due to the port and river congestion in Vietnam, antimony metal is piled in China and cannot be ship to overseas. European participants reported to Asian Metal that prices are already around USD6,000/t in warehouse Rotterdam, and market will firm in the coming weeks.

A European trader sold several batches of antimony ingot in the passed week in the range of USD5,900-6,000/t in warehouse Rotterdam, and he claimed that he bought material from Chinese suppliers at around USD5,800/t CIF Rotterdam.

According to him, the consumers are interested in buying now that they are afraid that price may go up further in the near future because the material is not being shipped from Vietnam.

He also sells antimony to U.S., and disclosed that he concluded a few deals last week in the range of USD5,900-6,000/t in warehouse Baltimore. He is offering at above USD6,000/t for 99.65%min standard grade two antimony ingot at the moment.

A European trader confirmed increasing price of antimony at either sides of USD6,000/t in warehouse Rotterdam, and he had received some high offers from China. "One supplier made me a fresh offer today at USD6,300/t CIF Rotterdam for good grade of antimony ingot, but this is crazy price that no one is willing to buy at the moment," said the source.

According to him, he had received some low offers at the beginning of the week. "There was one offer of 60t at USD5,650/t CIF Rotterdam for standard grade two material, I took the offer with no hesitation." He thinks the price will continue to increase in the next few weeks with little material available at the

Although no deals concluded last week, the source was confident that more business would come this week. "Consumers buy when they see increasing prices," the source commented

A third trader disclosed that the offers from China are at around USD5,850/t CIF Rotterdam for 99.65%min standard grade two antimony ingot, and in the range of USD5,850-6,050/t in warehouse Rotterdam. He bought some material for his customer at the above prices for shipment arriving early May....
read more

[+/-] : American antimony trioxide market keeps firm

As supply is tight, American antimony trioxide keeps firm, and dealers reported deals concluded at USD2.65-2.70/lb d.d.p
A trader source disclosed to Asian Metal that he had sold several batches of antimony trioxide in the last two weeks, and deals were concluded in the range of USD2.65-2.70/lb for Twinkling Star brand 99.5%min antimony trioxide.
He opines that the supply from China is not as much as last year, and the consumers are looking for material that they have used up their inventories in the passed two months. "There was almost no new material arrived U.S. in February and March but the consumers continued their production, so the stockpile of the material is low." He holds high price of antimony trioxide is likely to remain for another few weeks.
A U.S. trader confirmed the higher prices of antimony trioxide in American market at USD2.65-2.70/lb d.d.p., and he holds that there is very little material in American warehouses. "Some people may still have a little material bought at cheap prices, but they want to hold for a little higher prices."
The source reviewed the antimony trioxide market from beginning of the year: "the price was very low at the beginning of this year, and many consumers purchased material at that time. Then we had the big jump of price during the Chinese New Year because less material shipped to America. Just about the price starting to fall at the end of last week, Chinese suppliers increased prices again....
read more

[+/-] : Easter holiday keeps European antimony market stable

With many people still not back to office now, European antimony market kept quiet so far this week. Market participants expect price to remain stable at the current level.

A European trader disclosed that Chinese suppliers are offering material at USD5,800-5,850/t CIF Rotterdam for 99.65%min low bismuth antimony ingot, but the major consumers in Europe are asking for lower price at USD5,700-5,750/t. "It is impossible for us to do business at the moment," said the trader.

He holds that price will keep stable this week due to the Easter holiday, and drop by another USD50/t next week when all European people come back to work.

Another European trader confirmed the price of USD5,750-5,850/t CIF and in warehouse Rotterdam for 99.65%min standard grade two antimony ingot, and he said Chinese suppliers stopped offering because the of the Western holiday. Therefore, there is no change in the market this week.

Commenting on the future market, the trader believes antimony metal price willn' t drop to below USD5,700/t, and stabilize at that level until summer holidays. ...
read more

[+/-] : Premier Wen: Market to further determine RMB exchange rate

The Chinese government would further allow the market to determine the RMB exchange rate and more flexibility to the RMB band, Chinese Premier Wen Jiabao said Wednesday.

Wen made the remarks during a speech at the fourth EU-China Business Summit held here, which attracted about 500 entrepreneurs from China and the European Union (EU).

However, the premier also emphasized China would improve the RMB exchange rate regime "in a proactive, manageable and gradual manner," with a view to gradually enabling capital account convertibility.

Some Western countries have been pressuring China to revalue its currency RMB at a faster pace, complaining the exchange rate is the cause of global economic imbalance and mounting trade deficits they suffer from.

The Chinese premier obviously has a different view on the issue. "Exchange rate is a cause, but not the sole decisive factor, for trade deficits," he said.

"Since the RMB appreciated, China has seen no dwindling exports, which is a testimony to the existing global industrial structure and the competitive advantages enjoyed by Chinese products," he added.

Wen said the RMB exchange rate against the euro is determined by the RMB to U.S. dollar rate and the U.S. dollar to euro rate in the international market, adding the recent plunge of U.S. dollar was the main cause of an appreciating euro.

The premier also emphasized the importance of "moderate" revaluation of the yuan.

"The moderate tunings of the RMB exchange rate have been a source of stability for the Chinese economy and businesses, as well as its neighboring economies," he said.

China discontinued the yuan's peg from the U.S. dollar on July 21, 2005. Over the past two years, the RMB has appreciated 11.9 percent against the U.S. dollar and 7.4 percent against the Japanese Yen.

The yuan's central parity rate was 7.3899 against one U.S. dollar and 10.9614 against one euro on Wednesday.

The Chinese government has proactively and steadily advanced reform into the RMB exchange rate regime. It widened the yuan's daily trading band against U.S. dollar from plus or minus 0.3 percent to 0.5 percent in May.
Read more.....
...
read more