In February 2025, China's antimony ingot SMM assessed production decreased by approximately 7.84% MoM [SMM data].

According to SMM's assessment, China's antimony ingot production (including antimony ingots, crude antimony converted, antimony cathode, etc.) in February 2025 decreased by 7.84% MoM. Specifically, among the 33 surveyed producers currently assessed by SMM, 18 producers halted production, an increase of 5 compared to the previous month; 12 producers reduced production, a decrease of 5 compared to the previous month; and 3 producers maintained normal production, unchanged from the previous month. Regarding antimony ingot production, February's production declined again following January's decrease. Many market participants considered this a normal phenomenon, as early February coincided with the Chinese New Year, and many enterprises resumed operations only after the Lantern Festival. Consequently, many producers underwent maintenance or temporarily suspended production in the first half of February. Additionally, due to the inability of many overseas ore sources to enter the domestic market and the suspension of mining activities in northern regions during winter, the domestic supply of raw materials remains relatively tight. Many producers indicated that production would recover to some extent in March as the weather warms. Market participants expect a rebound in national antimony ingot production in March 2025 compared to February, with a high likelihood of an increase, a possibility of remaining flat, and a relatively small chance of a further slight decline.

Note: Since May 2022, SMM has been publishing assessed production data for national antimony ingots (including antimony ingots, crude antimony converted, antimony cathode, etc.). Benefiting from SMM's high coverage rate in the antimony industry, SMM's survey includes 33 antimony ingot producers across 8 provinces nationwide, with a total sample capacity exceeding 20,000 mt and a total capacity coverage rate of over 99%.

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