European antimony market sees more inquiries

BEIJING (Asian Metal) 5 Jun 06 – As more people are convinced that the Chinese government is going to cut the export tax rebate, suppliers received more inquiries lately.

A European trader revealed to Asian Metal that he was told by reliable sources that the export tax rebate is going to be cancelled and it is most likely to happen on July 1st. “The market is definitely going to be stirred before July.” He claimed that grade two antimony ingot with low bismuth is offered at USD5,100-5,200/t CIF Rotterdam, and major suppliers are still offering the material at over than USD5,400/t CIF Rotterdam. If any deals were concluded, the price would be at around USD5,250-5,300/t in warehouse Rotterdam.Asian Metal CopyrightThe trader disclosed that he had received more inquiries lately, and thought more inquiries would pour in before July.Asian Metal Copyright

Commenting on the market after the cut of export tax rebate, the source believed the Chinese suppliers will not bear the higher cost themselves, especially the smaller ones who are offering at low prices. He takes that price will jump back to the range of USD5,450-5,500/t CIF Rotterdam after the export tax rebate is cancelled.Asian Metal CopyrightCommenting on the market after the cut of export tax rebate, the source believed the Chinese suppliers will not bear the higher cost themselves, especially the smaller ones who are offering at low prices.Asian Metal Copyright

The trader disclosed that he had received more inquiries lately, and thought more inquiries would pour in before July.

Another European trader agreed with the viewpoint and confirmed the price of USD5,100-5,200/t CIF Rotterdam. He added: “Chinese suppliers should be more united if they want to manipulate the market, and now we are seeing price get lower and lower from some suppliers.”