China's SMM-assessed antimony ingot production is expected to rise by around 13.8% MoM in March 2025 [SMM data].

According to SMM's assessment, China's antimony ingot production (including antimony ingots, crude antimony conversion, antimony cathode, etc.) in March 2025 is expected to increase by approximately 13.8% MoM. Specifically, among the 33 surveyed entities currently assessed by SMM, 12 producers have halted production, a decrease of 6 compared to the previous month; 17 producers have reduced production, an increase of 5 from the previous month; and 4 producers have maintained normal production, an increase of 1 from the previous month. From the perspective of antimony ingot production, antimony production rebounded in March after a decline in February. Many market participants consider this a normal phenomenon, as the arrival of March has led to the resumption of production for many producers who were under maintenance or temporarily shut down in February, gradually returning to normal operations. However, some market participants noted that overall production remains at a relatively low level, primarily due to the inability of many overseas ore sources to enter the domestic market, coupled with winter factors such as frozen ore sources in the north, which have kept mining operations suspended. Domestic raw material supply remains relatively tight, and the reluctance of antimony ore suppliers to sell persists. Many producers indicated that as the weather warms up, production in April will continue to show a recovery trend. Market participants expect that China's antimony ingot production in April 2025 is likely to continue rising compared to March, although the possibility of remaining flat also exists, while the likelihood of a slight decline is relatively small.

Note: Since May 2022, SMM has been publishing the assessed production of antimony ingots (including antimony ingots, crude antimony conversion, antimony cathode, etc.) nationwide. Thanks to SMM's high coverage rate in the antimony industry, the total number of antimony ingot producers surveyed by SMM is 33, distributed across 8 provinces, with a total sample capacity exceeding 20,000 mt and a total capacity coverage rate of over 99%.

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