Indian participants hopes Antimony price will go down soon

Indian participants hopes Antimony price will go down soon

BEIJING (Asian Metal) 8 Jul 09 – Indian market participants reported that the hiking price of antimony ingot and trioxide is affecting the market buying. Many consumers start to watch the market without making purchases. Participants believe that the price of antimony ingot and trioxide will not hold high for long and may soon come down.

An Indian trader who usually imports three or four containers of antimony trioxide from China reported that the price of the material has been going up in last two weeks. "We bought one container of antimony trioxide 99.5%min at USD4,300/t CIF Indian main ports last week, but offers have gone up to USD4,350-4,400/t CIF Indian main ports this week," said the source.

The source felt that demand for antimony trioxide slows down because of the high price. Many of his customers are not making purchasing but watching the market instead. "The high price keeps buyers away from the market. If demand becomes slow, antimony trioxide price will soon fall down," said the source. Meanwhile, the source is selling at INR245-250/kg for antimony trioxide in the spot market.

Another Indian trader who mainly deals in antimony ingot predicts that the price of antimony products will go down at the end of July or early August.

The source confirmed that the high price of antimony ingot is hurting the market demand. Consumers cannot accept the price at as high as USD5,000-5,100/t CIF Indian main ports while the price was at USD4,200-4,300/t CIF Indian main ports three months ago. "Besides, we also sell antimony ingot to Europe. Many European buyers are going to take holidays, so the market will because quiet," said the source.

The source has not made purchases for antimony ingot recently due to the high price. He will keep a close eye on the market and will not rush into the market for the material. However, the source acknowledged that the supply is tight for now. As Chinese suppliers said, antimony concentrate is also in short. Therefore, the antimony ingot price may not drop dramatically even if it starts to move down.

Meanwhile, the source reported that antimony ingot is being offered at INR265-270/kg in the spot market.