Recently, the domestic antimony ingot market prices have continued to show a strong and significant upward trend. Currently, due to the ongoing tight supply of domestic and imported antimony ore, the reluctance to sell raw materials is also very evident. The market is keenly interested in when the two main sources of ore from Russia will arrive. Some market participants indicate that, in the short term, at least until May-June, it is unlikely that Russian antimony ore will fully enter the domestic market. There are rumours that Russia has over 10,000 mt in metal content of ore ready to be shipped to China, but the timing is uncertain. Although there are many domestic mines, the overall supply remains tight due to low volumes and reluctance to sell, and this situation is expected to continue for a long time. On the other hand, the environmental inspection team has already stationed in Hunan, and the market expects this to significantly impact antimony production. Market participants maintain their forecast of tight supply in the future, and to prevent difficulties in replenishing raw materials, they have started to hold back on selling antimony ingots and other resources, continuously raising prices. Recently, as antimony prices have reached new highs, even surpassing historical peaks, speculative funds have started to withdraw, and speculative demand has become cautious. End-users continue to make small, necessary purchases in an orderly manner. Some market participants indicate that end-users have not fully conceded to the price increases, and a wait-and-see atmosphere remains strong. As of now, SMM antimony average prices are: 2# low-bismuth antimony ingot at 107,000 yuan/mt, 1# antimony ingot at 113,000 yuan/mt, 0# antimony ingot at 114,000 yuan/mt, and 2# high-bismuth antimony ingot at 99,500 yuan/mt, all showing significant increases compared to previous periods. This week's antimony trioxide market prices, as of now, SMM antimony trioxide average prices are: 99.5% at 90,500 yuan/mt, 99.8% at 96,500 yuan/mt, also showing significant increases compared to previous periods.
Market rumours suggest that the Russian State Duma's Budget and Tax Committee recently approved a proposal to impose an additional mineral extraction tax of 78 million rubles/mt on gold from June 1 to December 31. The report, citing Deputy Finance Minister Alexei Sazanov, states that the additional tax will provide 15 billion rubles ($162 million) to the budget to offset the reduction in gold exports. Therefore, many market participants speculate that the real reason for the delay in Russian antimony ore entering the domestic market is likely an attempt to raise prices before selling and shipping.
![Цены на сурьму высокие, спрос в пиковый сезон сентября-октября ещё не подтверждён [Еженедельный обзор спотового рынка сурьмы SMM]](https://imgqn.smm.cn/usercenter/NPpAM20251217171723.jpeg)
