Some antimony suppliers increase their offers right after the National Day holiday during which time many illegal antimony mines in Hunan province were shut down by the government due to the safety and environment pollution problem. However, the market, in general, is quiet with suppliers receiving several inquiries for antimony ingot from buyers who are testing waters to see what the price trend is.
A Hunan-based antimony ingot smelter stated that they have received several inquiries for antimony ingot yesterday (6 October) and they quoted RMB39,000/t (USD5,710/t) VAT excluded ex works for antimony ingot 99.85%min, up from RMB38,600/t (USD5,652/t) VAT excluded ex works before the National Day holiday. They also increased their offers to RMB41,500/t (USD6,076/t) ex works for the same materials yesterday, while it was RMB41,000/t (USD6,003/t) ex works before the holiday. The smelter has an annual production capacity of around 20,000 tons.
The source stated that many mines have been shut down so that the supply of antimony concentrate will be tighter compared with the condition during the Olympic Games. Therefore, they increased offers by around RMB400-500/t (USD59-73/t). "The price may go up to some extent as many mines were closed in the past weeks, but it may finally become stable if not many buyers purchase the material."
Another Hunan-based smelter with a monthly production capacity of around 800 tons increased their offers to RMB41,500/t (USD6,076/t) ex works for antimony ingot 99.65%min yesterday, in consideration of the potential tighter supply of antimony concentrate, while they offered RMB41,000/t (USD6,003/t) ex works for the same material in the end of September.
The source believes that many smelters may increase their offers upon the closure of illegal mines, but he also indicated that demand should never be neglected. "The global economy is weakening, so that I am worried about the demand. If buyers purchase few, there is not much room for the price to go up further."
A Hunan-based antimony ingot smelter stated that they have received several inquiries for antimony ingot yesterday (6 October) and they quoted RMB39,000/t (USD5,710/t) VAT excluded ex works for antimony ingot 99.85%min, up from RMB38,600/t (USD5,652/t) VAT excluded ex works before the National Day holiday. They also increased their offers to RMB41,500/t (USD6,076/t) ex works for the same materials yesterday, while it was RMB41,000/t (USD6,003/t) ex works before the holiday. The smelter has an annual production capacity of around 20,000 tons.
The source stated that many mines have been shut down so that the supply of antimony concentrate will be tighter compared with the condition during the Olympic Games. Therefore, they increased offers by around RMB400-500/t (USD59-73/t). "The price may go up to some extent as many mines were closed in the past weeks, but it may finally become stable if not many buyers purchase the material."
Another Hunan-based smelter with a monthly production capacity of around 800 tons increased their offers to RMB41,500/t (USD6,076/t) ex works for antimony ingot 99.65%min yesterday, in consideration of the potential tighter supply of antimony concentrate, while they offered RMB41,000/t (USD6,003/t) ex works for the same material in the end of September.
The source believes that many smelters may increase their offers upon the closure of illegal mines, but he also indicated that demand should never be neglected. "The global economy is weakening, so that I am worried about the demand. If buyers purchase few, there is not much room for the price to go up further."
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