According to SMM's assessment, the production of first-grade sodium pyroantimonate in China in May 2025 is expected to decline by approximately 21.21% MoM from the previous month. After experiencing a significant rebound in March, production remained basically stable in April, only to decline again this month, which came as a surprise to many market participants. However, many market participants consider this a normal phenomenon. Since late February, antimony prices have been rising continuously, and orders for glass factories have also started to increase. The production increase of many producers in March was related to receiving more orders, and this situation continued into April. However, with the sharp decline in antimony market prices in April, orders from the terminal side also came to a standstill. Consequently, this affected the procurement demand for sodium pyroantimonate, and it was reasonable for many producers who failed to secure orders to adjust their production. Looking at the detailed data, among SMM's 11 survey respondents, 2 producers were in a state of shutdown or commissioning in May, 3 sodium pyroantimonate producers experienced an increase in production, but 3 producers also saw a significant decline in production, with one producer even experiencing a reduction of more than half. This led to a significant overall decline in production. Market participants anticipate that the national production of sodium pyroantimonate in June is unlikely to continue declining compared to May, and it is more likely to remain stable or increase slightly.
Note: Since July 2023, SMM has been publishing its assessed national production of sodium pyroantimonate. Benefiting from SMM's high coverage rate in the antimony industry, SMM surveyed a total of 11 sodium pyroantimonate producers, distributed across 5 provinces nationwide, with a total sample capacity exceeding 75,000 mt and a total capacity coverage rate as high as 99%.
This report is an original work and/or a compilation work of SMM Information & Technology Co., Ltd. (hereinafter referred to as "SMM"). SMM legally holds the copyright and is protected by the Copyright Law of the People's Republic of China, other relevant laws and regulations, and applicable international treaties. Without written permission, it is prohibited to reprint, modify, sell, transfer, display, translate, compile, disseminate, or disclose the above content to any third party in any other form, or to license its use by any third party. Otherwise, once discovered, SMM will pursue legal liability for infringement, including but not limited to requiring the assumption of liability for breach of contract, returning unjust enrichment, and compensating for direct and indirect economic losses. The content contained in this report, including but not limited to information, articles, data, charts, images, sounds, videos, logos, advertisements, trademarks, trade names, domain names, layout designs, and any or all other information, is protected by the Copyright Law of the People's Republic of China, the Trademark Law of the People's Republic of China, the Anti-Unfair Competition Law of the People's Republic of China, and other relevant laws and regulations, as well as applicable international treaties concerning copyright, trademark rights, domain name rights, commercial data information property rights, and other rights. It is owned or held by SMM and its relevant right holders. Without written permission, no institution or individual may reprint, modify, use, sell, transfer, display, translate, compile, disseminate, or disclose the aforementioned content to any third party in any other form, or license its use to any third party. Otherwise, once discovered, SMM will pursue legal action to hold the infringing party liable, including but not limited to demanding compensation for breach of contract, returning unjust enrichment, and compensating for direct and indirect economic losses. *All data in this report is based on publicly available market information (including but not limited to industry news, seminars, exhibitions, corporate financial reports, brokerage reports, data from the National Bureau of Statistics (NBS), customs import and export data, and various data published by major associations and institutions), and relies on SMM's internal database models. It is comprehensively processed internally by the SMM research team, and reasonable inferences are drawn. The information provided in this report is for reference only, and risks are borne by the user. This report does not constitute direct advice for investment research and decision-making. Clients should make prudent decisions and should not use this as a replacement for their own independent judgment. Any decisions made by clients are unrelated to SMM. In addition, SMM is not responsible for any losses or liabilities arising from unauthorized or illegal use of the viewpoints expressed in this report. SMM reserves the right to modify and ultimately interpret the terms of this statement.
![[SMM Analysis] Stainless Steel Social Inventory Saw a Slight Buildup, While High Supply Coupled with Cautious Downstream Demand Constrained Destocking](https://imgqn.smm.cn/usercenter/bFzkj20251217171724.jpg)
