Executive Interviews

Asian Metal: Ms. Li, welcome to our interview. To begin with, could you briefly introduce your company’s operations and main business?

Ms. Li: Founded in 2002, Hangzhou Zhengda Antimony Products Co., Ltd. is located in Hangzhou, Zhejiang Province, by the beautiful West Lake. Our company integrates R&D, toll processing, and sales. Sixteen years ago, we registered our own trademark, “Shanshan Brand.” Eleven years ago, the company obtained ISO 9001 Quality Management System certification. Our “Shanshan” brand antimony trioxide, compound flame retardants, and environmentally friendly flame retardants undergo annual SGS testing and food-grade inspections. Over the past 21 years, we have remained dedicated to the antimony industry and have received multiple honors, including Zhejiang Integrity Operation Demonstration Enterprise, Outstanding Supplier, and Outstanding Contribution Award. The Shanshan product series has become an approved supplier product line for leading enterprises across various industries.

Asian Metal: Domestic antimony ingot prices have continued to weaken recently. In your opinion, what are the main reasons behind this trend?

Ms. Li: The main reason for the lack of upward momentum in antimony product prices is weak downstream demand. End-use demand for antimony products is mainly concentrated in flame retardants, photovoltaics, and polyester markets. In recent years, demand from the flame retardant and photovoltaic sectors has continued to shrink, while part of the antimony consumption has been substituted by alternative materials, leading to weak downstream demand. On the other hand, affected by export control policies, the antimony export market has almost stagnated, and overseas demand remains sluggish. Redirecting these volumes to domestic consumption still brings considerable pressure.

Asian Metal: What is your view on the current demand situation in the traditional flame retardant consumption sector for antimony products?

Ms. Li: Antimony is widely used across multiple industrial sectors and is often referred to as the “industrial MSG.” Antimony compounds and antimony-bearing metals are mainly used to produce flame retardants, glass clarifying agents, catalysts, ammunition, and battery grid alloys, among other end products. Its applications cover pharmaceuticals, glass and ceramics, chemicals, fireproof and flame-retardant materials, military industry, semiconductors, and many other sectors. The flame retardant market accounts for around 50% of total antimony consumption and has remained the largest downstream application segment in recent years. However, as antimony prices have fluctuated at high levels in recent years, the proportion of consumption from the flame retardant sector has declined slightly.

Asian Metal: How do you assess the current raw material supply situation in the antimony market?

Ms. Li: China remains the world’s largest producer of antimony, but its advantages in reserves and output have been gradually declining. According to incomplete statistics, the world’s top three antimony-producing countries are China with 60,000 tons, Russia with 20,000 tons, and Tajikistan with 17,000 tons. China’s share of global output declined from 77.5% in 2015 to 54.5% in 2024, while its advantage in smelting capacity has also narrowed. On the supply side, domestic resource depletion combined with mining restrictions has created strong constraints on antimony supply. Overseas resources are showing signs of gradual growth, though the actual supply volume remains to be confirmed.

Asian Metal: How do you view the price trend of antimony products in 2026?

Ms. Li: Personally, I believe antimony prices are likely to remain at relatively high levels with range-bound fluctuations. Mainstream antimony ingot prices are expected to consolidate around RMB160,000-180,000/t. Downside risk appears limited, but upside potential is also constrained. Much will depend on raw material supply and downstream demand conditions. Under the backdrop of export controls, market demand still needs further improvement.

Asian Metal: With limited domestic supply and weak downstream demand, how should enterprises respond under the current market stalemate?

Ms. Li: In recent years, amid significant price volatility in antimony products, companies should pursue steady and prudent development. Enterprises should closely follow international policy guidance, serve downstream end-users well, and continuously improve service quality.

Asian Metal: What are your company’s future plans regarding major products and deep-processing businesses?

Ms. Li: At present, there have been no major changes in the company’s development direction. We remain focused on the sales and operation of antimony ingots, antimony oxide, and flame-retardant masterbatch products, while continuing to provide quality services to our existing customers.

Asian Metal: Thank you for accepting our interview. We wish your company continued prosperity and greater success in the future.

Ms. Li: Thank you.