According to SMM's survey of major sodium antimonate producers in China, the production of first-grade sodium antimonate in China in July 2024 was 3,270 mt, down 6.44% MoM from 3,495 mt in June. Looking at the production changes in Q2, after falling below 4,000 mt in April, it continued to decline in May, approaching 3,000 mt. However, after a significant rebound in June, it showed a downward trend again in July. Market participants believe that the current rise in antimony prices to a historical high has led to a significant increase in capital occupation for downstream manufacturers. As a result, the increased financial pressure on downstream companies has had some impact on production, which is a normal phenomenon. Additionally, the slight fluctuations in production during the summer are also considered normal. According to informed sources, despite the apparent weakening trend in the production of first-grade sodium antimonate due to the sharp rise in antimony prices, the production of non-first-grade products has actually increased. It is reasonable for companies to make some industrial adjustments with the aim of cost reduction.
In terms of detailed data, among the 11 surveyed producers by SMM, 2 were in a state of shutdown or testing in July, while the production of most other sodium antimonate producers remained stable or declined, leading to an overall decrease in production. Regarding the situation of glass manufacturers, nearly 10 production lines of Follett, Jinxin Solar, Liande Photovoltaic, and Taide Optoelectronics underwent cold repairs at the end of July, which may affect the procurement of sodium antimonate. SMM expects that the production of first-grade sodium antimonate in China in August will likely stabilize, but a further decline cannot be ruled out.
Note: Since July 2023, SMM has been publishing the national sodium antimonate production data. Thanks to SMM's high coverage rate in the antimony industry, the total number of sodium antimonate producers surveyed by SMM is 11, distributed across 5 provinces in China, with a total sample capacity exceeding 75,000 mt and a total capacity coverage rate as high as 99%.
