China's Antimony ingot Output In September And Forecast For October

SHANGHAI, Oct 12 (SMM) –

According to SMM survey, China antimony ingot (including antimony ingot, converted crude antimony, cathode antimony, etc.) output in September 2023 was 7,469 mt, barely unchanged from 7,458 mt in August. Customs data said that China’s imports of other antimony ore sand and concentrate were 1,300.39 mt in August. Market participants said that various reasons such as mines’ reluctance to sell and geopolitics will still hinder imports of antimony ore, while domestic antimony ore tightness will linger amid a growing reluctance to sell among domestic mines. Many market participants noted that domestic inventory of antimony products was shrinking to a low level, partially due to feedstock shortfalls. In addition, output of finished antimony products also appeared low. Under such circumstance, many manufacturers started restricting sales because the inventory dropped to a low point that must be controlled, and even approached the theoretical negative inventory state. Many manufacturers also report that their orders were even scheduled until the end of October. Predictions of difficulty of a big gain in output of many antimony product producers will leave little likelihood of supply surplus and a slew of inventory on the near-term. A fewer low-cost goods in the market will bring with it few biddings. Moreover, a lack of antimony ore or other raw materials currently fuelled suppliers’ reluctance to sell. Players said that the reason for imported antimony price slip was exchange rate changes. Interest rate hikes led to volatile international exchange rate, meeting expectations. In addition, the settlement of imported goods was dominated by the dollar. Actually, imported price fluctuations were normal.