With some deals concluded at RMB40,100-40,300/t ex works, antimony ingot market continues to keep stable this week. As a few more inquires come from overseas, some participants predict that the price may go up slightly in the near future,
A source from a storage battery producer in Zhejiang revealed that they purchased 60-70t of grade one antimony ingot at RMB40,500/t (USD5,432/t) ex works late last week, while the price for standard grade two antimony ingot keeps at RMB40,100-40,300/t (USD5,379-5,405/t) ex works. The source purchases around 100tpm of antimony ingot, of which 4% is used to produce battery, and the rest is sold to downstream users.
According to the source, the antimony ingot price is likely to go up by the end of the year due to shortage of raw material. The source would like to purchase more stocks before the end of the year.
A Hunan-based producer told Asian Metal that they sold about 30t of antimony ingot at RMB40,300/t (USD5,405/t) ex works, at the same level with the last deal. According to the source, the stockpile in warehouse Rotterdam is not large, so the European price may pick up slightly in the future, prompting the price up in China accordingly.
The source estimated that materials smuggled out take up half of the output in China, and most was smuggled through Vietnam. The smelter is running its full capacity of 2,500tpy, with a stock of over 100t on hand. The source also revealed that its capacity would be expanded to 10,000tpy by the end of next year.
An official from a state-owned trading company revealed that they sold several hundred of tons of antimony ingot at USD5,600-5,700/t CIF Rotterdam. However, most consumers show little interest as Chinese suppliers offer as high as USD5,700-5,800/t FOB.
"The demand for antimony ingot may get stronger and price may firm up slightly in the coming weeks, as more consumers may purchase for their first quarter's stock of next year," said the source, who also concluded a deal of 50t of antimony trioxide at USD5,000 CIF Rotterdam.
Most participants take for that the antimony ingot market will continue running steadily in the future.
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