As a large proportion of antimony smelters have suspended production because of the lacking of raw materials, those who are still in production and hold a considerable amount of stocks do not want to release the metal to the market.
A South China-based smelter with a monthly production capacity of around 300 tons stated that they increased offers for antimony ingot 99.65%min from RMB39,800/t (USD5,819/t) ex works last week to RMB40,800/t (USD5,965/t) ex works early this week. The source works in a state-owned plant that will suspend the production in a few days' time for furnace maintenance.
"The supply of antimony ingot becomes tighter because of the government's stricter control on the explosives as the Olympic Games is in a week's time," said the source, continuing, "Therefore, we increase the our offers and in fact we do not want to release the metal at the current price level. If buyers could accept the increased price, we would conclude the deal."
The source believes that the market may continue to go up by the end of the Olympic Games as there are very few quantities of antimony ingot coming out of Lengshuijiang region - the major antimony production region in China. Besides, the market becomes a little active than that in the past several weeks because there are some consumers making purchases to replenish stocks at the time.
Another South China-based smelter with a monthly production of around 300 tons confirmed that they increased their offers for antimony ingot 99.65% too, from RMB37,500-37,800/t (USD5,482-5,526/t) ex works VAT excluded to RMB38,000-38,500/t (USD5,556-5,629/t) ex works VAT excluded.
The source stated that more buyers sent inquiries this week and the supply of antimony ingot becomes very tight. "We do not plan to release the metal as the market is picking up and we want to wait for higher prices."
A South China-based smelter with a monthly production capacity of around 300 tons stated that they increased offers for antimony ingot 99.65%min from RMB39,800/t (USD5,819/t) ex works last week to RMB40,800/t (USD5,965/t) ex works early this week. The source works in a state-owned plant that will suspend the production in a few days' time for furnace maintenance.
"The supply of antimony ingot becomes tighter because of the government's stricter control on the explosives as the Olympic Games is in a week's time," said the source, continuing, "Therefore, we increase the our offers and in fact we do not want to release the metal at the current price level. If buyers could accept the increased price, we would conclude the deal."
The source believes that the market may continue to go up by the end of the Olympic Games as there are very few quantities of antimony ingot coming out of Lengshuijiang region - the major antimony production region in China. Besides, the market becomes a little active than that in the past several weeks because there are some consumers making purchases to replenish stocks at the time.
Another South China-based smelter with a monthly production of around 300 tons confirmed that they increased their offers for antimony ingot 99.65% too, from RMB37,500-37,800/t (USD5,482-5,526/t) ex works VAT excluded to RMB38,000-38,500/t (USD5,556-5,629/t) ex works VAT excluded.
The source stated that more buyers sent inquiries this week and the supply of antimony ingot becomes very tight. "We do not plan to release the metal as the market is picking up and we want to wait for higher prices."
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