According to SMM's assessment, China's antimony ingot production (including antimony ingots, converted crude antimony, antimony cathode, etc.) in October 2025 increased by approximately 22.86% MoM compared to the previous month. In detail, among the 33 surveyed enterprises currently assessed by SMM, 12 producers were shut down, a decrease of 3 from the previous month; 20 producers experienced reduced production, an increase of 3 from the previous month; and 1 producer maintained essentially normal output, unchanged from the previous month. Regarding antimony ingot production, after falling below 4,000 mt in September, output returned to above 4,000 mt in October. Although this represents a rebound, many market participants consider it a normal phenomenon, given that national production remains at historically low levels, and output around 4,000 mt is still far below normal production levels. Currently, raw materials in the market remain relatively tight and concentrated, leaving many producers still unable to operate. Market participants expect that China's antimony ingot production in November 2025 may not change significantly compared to October, with possibilities of remaining stable or experiencing a slight decline.
Note: Since May 2022, SMM has been publishing its assessed national antimony ingot production (including antimony ingots, converted crude antimony, antimony cathode, etc.). Benefiting from SMM's high coverage rate of the antimony industry, the total number of antimony ingot producers surveyed by SMM is 33, distributed across 8 provinces in China, with a total sample capacity exceeding 20,000 mt and a total capacity coverage rate of over 99%.
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