In June 2025, SMM-assessed production of antimony ingot in China is expected to decline significantly by around 21.5% MoM [SMM data]

According to SMM's assessment, the overall production of antimony ingots (including antimony ingots, converted crude antimony, antimony cathode, etc.) in China in June 2025 saw a significant MoM decline of approximately 21.5% compared to the previous month. Specifically, among the 33 surveyed producers assessed by SMM, 15 producers reported zero production, an increase of 4 producers compared to the previous month; 15 producers experienced production cuts, a decrease of 4 producers compared to the previous month; and 3 producers maintained normal production levels, unchanged from the previous month. From the perspective of antimony ingot production, after a slight increase in May, antimony production in June declined sharply again. Many market participants consider this a normal phenomenon, as the recent significant drop in market prices has led to greater flexibility in market production. Additionally, with the arrival of summer, a large number of producers have entered maintenance and shutdown periods, limiting production, reducing inventory, and alleviating sales pressure. Currently, overseas ore sources still cannot enter the domestic market in large quantities, and market participants indicate that the overall domestic raw material supply remains tight. However, it is expected that more producers will announce shutdowns and production cuts from late June to early July. Market participants predict that the national antimony ingot production in July 2025 is likely to continue to decline compared to June.

Note: Since May 2022, SMM has been publishing its assessed production of antimony ingots (including antimony ingots, converted crude antimony, antimony cathode, etc.) nationwide. Thanks to 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 as high as over 99%.

This report is an original work and/or compilation created by SMM Information & Technology Co., Ltd. (hereinafter referred to as "SMM"). SMM legally holds the copyright and is protected by laws and regulations such as the Copyright Law of the People's Republic of China and applicable international treaties. Without written permission, it is prohibited to reproduce, modify, sell, transfer, display, translate, compile, disseminate, or disclose the above content to any third party in any form or permit any third party to use it. Otherwise, once discovered, SMM will pursue legal liability for infringement, including but not limited to requiring the assumption of contractual breach liability, returning unjust enrichment, and compensating for direct and indirect economic losses. The content contained in this report, including but not limited to information, articles, data, charts, images, sounds, videos, logos, advertisements, trademarks, trade names, domain names, layout designs, and any or all information, is protected by laws and regulations such as the Copyright Law of the People's Republic of China, the Trademark Law of the People's Republic of China, the Anti-Unfair Competition Law of the People's Republic of China, and applicable international treaties concerning copyright, trademark rights, domain name rights, commercial data information property rights, and other rights, and is owned or held by SMM and its relevant right holders. Without written permission, no institution or individual may reprint, modify, use, sell, transfer, display, translate, compile, disseminate, or disclose the aforementioned content to a third party in any other form, or license a third party to use it. Otherwise, once discovered, SMM will pursue legal action against the infringer for liability, including but not limited to demanding compensation for breach of contract, returning unjust enrichment, and compensating for direct and indirect economic losses. *All data in this report is based on publicly available market information (including but not limited to industry news, seminars, exhibitions, corporate financial reports, brokerage reports, data from the National Bureau of Statistics (NBS), customs import and export data, and various data published by major associations and institutions), and relies on SMM's internal database model. It is comprehensively processed internally by the SMM research team, and reasonable inferences are made. The information provided in the report is for reference only, and risks are assumed by the user. This report does not constitute direct advice for investment research decisions. Clients should make cautious decisions and not rely on it to replace their own independent judgment. Any decisions made by clients are unrelated to SMM. Additionally, SMM is not responsible for any losses or liabilities arising from unauthorized or illegal use of the viewpoints expressed in this report. SMM reserves the right to modify and ultimately interpret the terms of this statement.