Some antimony suppliers increase their offers due to the tight supply of antimony concentrate.
A Lengshuijiang-based smelter with a monthly production capacity of around 400 tons reported a deal of grade two antimony ingot of RMB39,800/t (USD5,819/t) ex works in the beginning of last week and another deal of RMB40,500/t (USD5,021/t) ex works in the end of last week. The source puts the mainstream price of grade two antimony ingot at RMB40,300-41,000/t (USD5,892-5,994/t) ex works this week.
The source that has their own mine stated, "We increased offers in the end of last week because the output of antimony ingot reduced by around two thirds caused by the output reduction of raw materials by 50%." He estimated that there are around 80 antimony ingot smelting plants in Lengshuijiang area with 50% of them suspending production and around 25% of their outputs reducing to lower than 50%. Therefore, he believes that the supply of antimony ingot may become tight in the near future and the market may pick up after the summer holiday if buyers come back to make purchases actively.
The source believes that the market may increase further in the recent two weeks. He explained that more plants may suspend the production as they are going to use up the inventories of raw materials so that the supply of both antimony concentrate and antimony ingot may become tighter. In addition, there are some buyers making some purchases to replenish stocks.
Another Lengshuijiang-based smelter with a monthly production capacity of around 300 tons confirmed that they increased their offers from RMB37,500-37,800/t (USD5,482-5,526/t) VAT excluded ex works in the beginning of last week to RMB38,000-38,500/t (USD5,556-5,629/t) VAT excluded ex works. They have already concluded a deal at RMB38,500/t (USD5,629/t) VAT excluded ex works early this week.
The source explained, "We received relatively more inquires from buyers and the antimony ingot supply becomes tighter and tighter recently as many smelters like us have reduced the output reluctantly because we could not get enough raw materials." The output of the smelter has been reduced by 50% to around 150 tons.
The source revealed that they have heard a deal concluded at RMB41,000/t (USD5,994/t) ex works and he believes that the market may increase further as the supply of antimony concentrate may become tighter. They will suspend the production around several days later because they have used up the raw materials.
A Lengshuijiang-based smelter with a monthly production capacity of around 400 tons reported a deal of grade two antimony ingot of RMB39,800/t (USD5,819/t) ex works in the beginning of last week and another deal of RMB40,500/t (USD5,021/t) ex works in the end of last week. The source puts the mainstream price of grade two antimony ingot at RMB40,300-41,000/t (USD5,892-5,994/t) ex works this week.
The source that has their own mine stated, "We increased offers in the end of last week because the output of antimony ingot reduced by around two thirds caused by the output reduction of raw materials by 50%." He estimated that there are around 80 antimony ingot smelting plants in Lengshuijiang area with 50% of them suspending production and around 25% of their outputs reducing to lower than 50%. Therefore, he believes that the supply of antimony ingot may become tight in the near future and the market may pick up after the summer holiday if buyers come back to make purchases actively.
The source believes that the market may increase further in the recent two weeks. He explained that more plants may suspend the production as they are going to use up the inventories of raw materials so that the supply of both antimony concentrate and antimony ingot may become tighter. In addition, there are some buyers making some purchases to replenish stocks.
Another Lengshuijiang-based smelter with a monthly production capacity of around 300 tons confirmed that they increased their offers from RMB37,500-37,800/t (USD5,482-5,526/t) VAT excluded ex works in the beginning of last week to RMB38,000-38,500/t (USD5,556-5,629/t) VAT excluded ex works. They have already concluded a deal at RMB38,500/t (USD5,629/t) VAT excluded ex works early this week.
The source explained, "We received relatively more inquires from buyers and the antimony ingot supply becomes tighter and tighter recently as many smelters like us have reduced the output reluctantly because we could not get enough raw materials." The output of the smelter has been reduced by 50% to around 150 tons.
The source revealed that they have heard a deal concluded at RMB41,000/t (USD5,994/t) ex works and he believes that the market may increase further as the supply of antimony concentrate may become tighter. They will suspend the production around several days later because they have used up the raw materials.
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