Antimony ingot price unexpectedly up
2005-05-12 09:42:33 【Print】
BEIJING (Asian Metal) 12 May 05 – Prompted by the antimony export tax rebate decrease, suppliers have begun to quote higher export prices for antimony products. However, the domestic market price also saw an unexpected increase recently, although only few transactions have been heard of, market sources reported to Asian Metal today.
“We just sold a batch of antimony ingot for RMB25,200/t ex works, about RMB400/t up compared to the ones before the May Day holiday,” an official from a major Hunan-based smelter told Asian Metal.
The source claimed that current antimony ingot supply is relatively tight in the spot market. Although the smelter operates at its full production capacity of 3,000typ, it has little spot material to supply, according to the source.
A trader from South China told Asian Metal that some smelters are raising domestic spot prices at the moment. “Some Hunan-based smelters quote as high as RMB26,000/t ex works, close to the level two month ago,” said the source. ”However, they seem to hold the material without any intention of selling now.”
“We are entirely confused about the current market,” the source complained. “Even though I have been engaged in this field for tens of years, I still can’t give any judgment on the present market.”
A Guangdong-based trader claimed that some major industry smelters tend to manipulate the market. “A major smelter from Hunan quoted us as high as RMB25,500/t this week. Moreover, it alleged that it has difficulties to provide spot materials for the time being,” said the source, adding that the current domestic market for antimony ingot is really quiet, with few deals concluded.
“In view of current market conditions, we have to watch and wait before taking any further actions,” the source said, unable to give more details for the future market.
