SMM February 14 News: This week, following the 2025 Lantern Festival, the market has officially entered full operation. The domestic antimony market showed slight variations in trading performance. End-use demand was notably weak, with downstream sectors such as flame retardants and PV industries showing limited buying interest. Many end-users reported poor orders. Reflecting this, antimony trioxide prices remained weak and stable, though some market participants noted that sales prices in certain regions were still sluggish, with low-priced resources occasionally appearing. End-users maintained a strong wait-and-see sentiment. Due to expectations of tighter export controls, the midstream and downstream markets remained cautious about future price trends. On the other hand, antimony ingot prices showed a steady increase under the collective effort of suppliers to stand firm on quotes. As of now, SMM antimony average prices are as follows: 2# low-bismuth antimony ingot at 139,000 yuan/mt, 1# antimony ingot at 142,000 yuan/mt, 0# antimony ingot at 146,000 yuan/mt, and 2# high-bismuth antimony ingot at 136,000 yuan/mt. Meanwhile, this week's antimony trioxide market prices, as of now, show SMM antimony trioxide average prices at 120,000 yuan/mt for 99.5% purity and 129,000 yuan/mt for 99.8% purity. Some market participants stated that large antimony plants in Yunnan, Hunan, and other regions had already announced resumption of operations after the Chinese New Year, signaling a fresh start for the new year. Market participants also mentioned that after the consolidation of antimony product prices in 2024, there is a possibility of a rebound in antimony ingot prices in the future. However, given the persistently weak demand across various sectors, particularly the significant potential decline in PV demand, even if antimony ingot prices rebound, the increase is expected to be relatively small due to the drag caused by the difficulty in digesting antimony trioxide inventory.
According to SMM, Shandong Humon Smelting Co., Ltd. conducted an open tender this week for approximately 65 mt of antimony trioxide (oxide powder). Based on official information, most of this batch of antimony trioxide has a purity range of 95.78-99.8%, with a small portion exceeding 99.8%. The delivery method is self pick-up by the buyer, with transportation costs borne by the buyer. Buyers are required to make payment before picking up goods, and the delivery location is at Shandong Humon Smelting Co., Ltd. The bidding price is determined by a coefficient pricing method, referencing the February 12, 2025, Shanghai Metals Market 1# antimony ingot price multiplied by the coefficient, with the highest coefficient winning. Currently, the official bidding results have not been announced. However, market rumors suggest that the tender barely concluded successfully, with the exact winning coefficient unknown. Unverified rumors indicate it was around 80%, approximately 112,000 yuan/mt.
