Antimony Prices Consolidate at High Levels, Ingot Grades Rise Slowly

The first full trading week after the holiday witnessed the antimony market break out of its one‑plus‑month high-level sideways consolidation, with quotes for all products falling across the board. On October 12 (Monday), prices of all grades were broadly cut by RMB 3,000–4,000 per ton. The downward trend accelerated on the 13th, as 1# antimony ingot dipped below the RMB 100,000/ton threshold to RMB 98,000/ton. From October 14 to 15, 1# antimony ingot briefly stabilized around the RMB 95,000/ton level. Prices moved lower again on the 16th, with 1# antimony ingot closing at RMB 92,000/ton and 0# antimony ingot at RMB 94,000/ton.

According to SMM estimates, China’s output of first-grade sodium pyroantimonate in September 2026 is expected to drop by approximately 25% month-on-month. The sharp fall in September output came as a surprise to many market participants, as the traditional peak season of "Golden September and Silver October" failed to materialize. In the short term, demand for antimony from the photovoltaic sector is unlikely to improve. The scenario of weak supply alongside weak demand will persist for some time.