According to SMM's assessment, China's antimony ingot (including antimony ingot, crude antimony conversion, antimony cathode, etc.) production in May 2025 increased by approximately 4.2% MoM compared to the previous month. In detail, among the 33 surveyed producers currently assessed by SMM, 11 producers halted production, an increase of 3 from the previous month; 19 producers experienced production cuts, a decrease of 2 from the previous month; and 3 producers maintained relatively normal production levels, a decrease of 1 from the previous month. From the perspective of antimony ingot production, antimony production in May slightly increased again after a significant decline in April, which many market participants considered a normal phenomenon. The recent volatile market prices also contributed to the high elasticity of market production. Currently, many overseas ore sources are still unable to enter the domestic market, and market participants indicated that the overall domestic raw material supply remains tight. However, with the correction of antimony market prices, the shipping sentiment of antimony ore suppliers has begun to strengthen. Nevertheless, as many producers announced production halts and cuts from late May to early June, market participants anticipate that China's national antimony ingot production in June 2025 is likely to experience a significant decline compared to May.
Note: Since May 2022, SMM has been publishing its assessed production of SMM national antimony ingot (including antimony ingot, crude antimony conversion, antimony cathode, etc.). Benefiting from SMM's high coverage rate in the antimony industry, SMM surveyed a total of 33 antimony ingot producers distributed 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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