Chinese antimony ingot market sees strong wait-and-see sentiment
2023-03-23 11:57:57 [Print]
BEIJING (Asian Metal) 23 Mar 23 - As prices trend down, a wait-and-see sentiment now prevails in Chinese antimony ingot market where some consumers prefer to force down offers to purchase, leading to few deals closed in the market. Current mainstream prices for Chinese antimony ingot 99.85%min stand at RMB82,500-83,500/t (USD12,062-12,209/t) EXW D/P, down roughly by RMB1,000/t (USD146/t) from late last week. Considering the overall tight supply of raw material, insiders believe that prices for Chinese antimony ingot 99.85%min would remain stable on the whole in the coming week.
A producer in South China said, "There is a strong wait-and-see sentiment in the domestic antimony ingot market as most consumers keep purchasing from hand to mouth, which led to overall slack market movements. We received enquiries from several regular clients this week and most of them refused to purchase at prices higher than RMB83,000/t (USD12,136/t), with a strong bearish attitude toward the market". The producer added that they now quote antimony ingot 99.85%min at RMB83,000/t (USD12,136/t) EXW D/P, and for regular clients, they would consider selling at RMB82,500/t (USD12,062/t). They didn't close any deals this week while they rejected prices below RMB83,000/t (USD12,136/t) last week when no deals were closed either. They last sold about 64t at RMB84,800/t (USD12,399/t) one week ago. Given the overall tight supply of raw material, they believe there is room for the price of antimony ingot 99.85%min to move down and forecast that prices for Chinese antimony ingot 99.85%min would stay unmoved on the whole in the coming week.
With an annual production capacity of 5,000t of antimony ingot 99.85%min, they produced about 2,500t in total last year and expect about 200t in March, on par with February. They hold inventory of around 200t at the moment, compared with 300t one month earlier.
"We don't quote antimony ingot 99.85%min for the moment while we offered RMB84,000/t (USD12,282/t) EXW D/P early this week, but our clients refused to accept the offer, so there were no deals closed this week. We now consider selling the material to regular clients at RMB83,000/t (USD12,136/t) but we still failed to close any deals", said another producer in South China, adding that as the price of raw material stays soft, consumers just purchase from hand to mouth amid a strong wait-and-see sentiment. They last sold about 30t at RMB85,000/t (USD12,428/t) one week ago. Given the overall tight supply of raw material, suppliers hold their offers firm, and the producer believes that prices for Chinese antimony ingot 99.85%min would remain unchanged in the coming week.
With an annual production capacity of 8,000t of antimony ingot 99.85%min, they produced about 4,500t in total last year and expect about 600t in March, up from about 400t in February. They hold no stocks in hand now, the same as a month ago.
A producer in South China said, "There is a strong wait-and-see sentiment in the domestic antimony ingot market as most consumers keep purchasing from hand to mouth, which led to overall slack market movements. We received enquiries from several regular clients this week and most of them refused to purchase at prices higher than RMB83,000/t (USD12,136/t), with a strong bearish attitude toward the market". The producer added that they now quote antimony ingot 99.85%min at RMB83,000/t (USD12,136/t) EXW D/P, and for regular clients, they would consider selling at RMB82,500/t (USD12,062/t). They didn't close any deals this week while they rejected prices below RMB83,000/t (USD12,136/t) last week when no deals were closed either. They last sold about 64t at RMB84,800/t (USD12,399/t) one week ago. Given the overall tight supply of raw material, they believe there is room for the price of antimony ingot 99.85%min to move down and forecast that prices for Chinese antimony ingot 99.85%min would stay unmoved on the whole in the coming week.
With an annual production capacity of 5,000t of antimony ingot 99.85%min, they produced about 2,500t in total last year and expect about 200t in March, on par with February. They hold inventory of around 200t at the moment, compared with 300t one month earlier.
"We don't quote antimony ingot 99.85%min for the moment while we offered RMB84,000/t (USD12,282/t) EXW D/P early this week, but our clients refused to accept the offer, so there were no deals closed this week. We now consider selling the material to regular clients at RMB83,000/t (USD12,136/t) but we still failed to close any deals", said another producer in South China, adding that as the price of raw material stays soft, consumers just purchase from hand to mouth amid a strong wait-and-see sentiment. They last sold about 30t at RMB85,000/t (USD12,428/t) one week ago. Given the overall tight supply of raw material, suppliers hold their offers firm, and the producer believes that prices for Chinese antimony ingot 99.85%min would remain unchanged in the coming week.
With an annual production capacity of 8,000t of antimony ingot 99.85%min, they produced about 4,500t in total last year and expect about 600t in March, up from about 400t in February. They hold no stocks in hand now, the same as a month ago.
