Chinese ethylene glycol antimony market sees inactive deals
2023-03-02 11:57:57 [Print]
BEIJING (Asian Metal) 2 Mar 23 - The Chinese ethylene glycol antimony market sees strong wait-and-see sentiments and limited deals as demand from downstream customers stays soft against the backdrop that most end users just refill stocks based on orders. Mainstream prices of Chinese ethylene glycol antimony 57%min stand at RMB60,000-61,000/t (USD8,702-8,847/t) delivered D/A 60 days currently, basically unchanged from early this week. In view of limited deals in the market on the whole and the fact that consumers just keep purchasing from hand to mouth, insiders predict that mainstream prices of Chinese ethylene glycol antimony 57%min would go down slightly in the coming week.
A producer in South China said, "We now quote RMB62,000/t (USD8,992/t) delivered D/A 60 days for ethylene glycol antimony 57%min and could accept the price of RMB61,000/t (USD8,847/t) for firm orders. In fact, we already sold 10t of the material at RMB61,000/t (USD8,847/t) early this week." The producer added that it's difficult for prices of ethylene glycol antimony 57%min to rise in the market. Supported by firm raw material prices, they raised their price to RMB63,000/t (USD9,137/t) delivered D/A 60 days last week, but downstream consumers thought that the price was too high and only waited on the sidelines against the backdrop of limited deals in the market. According to the producer, their antimony trioxide 99.5%min suppliers keep prices of the raw material firm at about RMB74,000/t (USD10,732/t) and most of them hold back from selling owing to tight spot supply. In light of firm raw material prices, the producer has to keep ethylene glycol antimony 57%min quotation firm this week. Their sales in February were 200t, much lower than the monthly sales of about 400t in normal condition. Dragged by soft demand in the terminal market, the producer just takes a wait-and-see attitude about the market outlook and expects that mainstream prices of Chinese ethylene glycol antimony 57%min would decline in the coming week.
With an annual production capacity of 5,000t of ethylene glycol antimony 57%min, the producer produced about 4,000t of the material in 2022 and about 200t in February 2023, holding about 200t of stocks at the moment, steady MOM.
Another producer in South China said, "We now quote RMB62,500/t (USD9,065/t) delivered D/A 60 days for ethylene glycol antimony 57%min and could accept the price of RMB61,500/t (USD8,919/t) for firm orders, unchanged from early this week. We once sold about 20t of the material at RMB62,500/t (USD9,065/t) late last week, but didn't conclude any deal by now this week against the backdrop of inactive deals in the market on the whole." The producer added that it's hard for them to purchase raw material antimony trioxide 99.5%min at any prices lower than RMB74,000/t (USD10,732/t) now as most suppliers of the raw material quote RMB75,000/t (USD10,877/t). In view of firm raw material prices, the producer keeps ethylene glycol antimony price quotation firm this week. Given soft demand in the terminal market and the fact that consumers only keep purchasing in accordance with orders, the producer's sales were only less than 300t in February 2023, but their weekly sales could reach 400t or so in normal condition. Restricted by soft demand in the market, the producer predicts that mainstream prices of Chinese ethylene glycol antimony 57%min would go down in the coming week.
With an annual production capacity of 6,000t of ethylene glycol antimony 57%min, the producer produced about 4,500t of the material in 2022 and about 360t in February 2023, holding no spot stocks for the time being, basically unchanged from last month.
A producer in South China said, "We now quote RMB62,000/t (USD8,992/t) delivered D/A 60 days for ethylene glycol antimony 57%min and could accept the price of RMB61,000/t (USD8,847/t) for firm orders. In fact, we already sold 10t of the material at RMB61,000/t (USD8,847/t) early this week." The producer added that it's difficult for prices of ethylene glycol antimony 57%min to rise in the market. Supported by firm raw material prices, they raised their price to RMB63,000/t (USD9,137/t) delivered D/A 60 days last week, but downstream consumers thought that the price was too high and only waited on the sidelines against the backdrop of limited deals in the market. According to the producer, their antimony trioxide 99.5%min suppliers keep prices of the raw material firm at about RMB74,000/t (USD10,732/t) and most of them hold back from selling owing to tight spot supply. In light of firm raw material prices, the producer has to keep ethylene glycol antimony 57%min quotation firm this week. Their sales in February were 200t, much lower than the monthly sales of about 400t in normal condition. Dragged by soft demand in the terminal market, the producer just takes a wait-and-see attitude about the market outlook and expects that mainstream prices of Chinese ethylene glycol antimony 57%min would decline in the coming week.
With an annual production capacity of 5,000t of ethylene glycol antimony 57%min, the producer produced about 4,000t of the material in 2022 and about 200t in February 2023, holding about 200t of stocks at the moment, steady MOM.
Another producer in South China said, "We now quote RMB62,500/t (USD9,065/t) delivered D/A 60 days for ethylene glycol antimony 57%min and could accept the price of RMB61,500/t (USD8,919/t) for firm orders, unchanged from early this week. We once sold about 20t of the material at RMB62,500/t (USD9,065/t) late last week, but didn't conclude any deal by now this week against the backdrop of inactive deals in the market on the whole." The producer added that it's hard for them to purchase raw material antimony trioxide 99.5%min at any prices lower than RMB74,000/t (USD10,732/t) now as most suppliers of the raw material quote RMB75,000/t (USD10,877/t). In view of firm raw material prices, the producer keeps ethylene glycol antimony price quotation firm this week. Given soft demand in the terminal market and the fact that consumers only keep purchasing in accordance with orders, the producer's sales were only less than 300t in February 2023, but their weekly sales could reach 400t or so in normal condition. Restricted by soft demand in the market, the producer predicts that mainstream prices of Chinese ethylene glycol antimony 57%min would go down in the coming week.
With an annual production capacity of 6,000t of ethylene glycol antimony 57%min, the producer produced about 4,500t of the material in 2022 and about 360t in February 2023, holding no spot stocks for the time being, basically unchanged from last month.
