Chinese traders quote $3200/t for antimony export

BEIJING(Asian Metal)2-Mar-2005 For the moment, Chinese traders quote a price of over $3200/t CIF for antimony ingot export, compared with that of around $3100/t before the Spring Festival, supported by the current tight material supply in China, according to some market participants.

An antimony trader from South China claimed that now its price is quoted at $3200/t CIF. "Although our current price is quoted a little higher, the lowest level we could accept is $3150/t, otherwise we would not sign with overseas buyers," the trader said, reporting the current antimony ingot price offered by domestic suppliers has increased around $50/t from the previous level. According to him, before the Spring Festival he could purchase the product from domestic suppliers at around $2900/t.Asian Metal Copyright On the other hand, it has little possibility to purchase from domestic producers at that level for the moment," said the trader.Asian Metal Copyright

But the trader noted that currently it is relatively easy to export to South Korea, different from the situation of export to European. "Due to the low requirement for antimony ingot quality from South Korea buyers, we can easily acquire antimony ingot from Guangxi producers with a comparatively low price," said he, adding that a few days ago he had exported 20 tonnes antimony ingot at a price of $3060/t CIF South Korea.

At the same time, another trader agreed that its current price is also quoted at $3200/t CIF, while the prices offered by European buyers are less than $3100/t. "The large price gap makes the current market difficult to reach a deal and the situation may last in the forthcoming days," said he, commenting that if the price would keep on the current level for another two weeks, buyers would come to the market for the metal at that time.Asian Metal CopyrightAt the same time, another trader agreed that its current price is also quoted at $3200t CIF, while the prices offered by European buyers are less than $3100t.Asian Metal Copyright If not, domestic sellers would cut down their quotations.

According to him, now domestic producers quote over rmb25000/t, even as high as rmb25800/t for antimony ingot. "If we can contract with domestic producers at rmb25000/t, we have to sell at over $3100/t, while no foreign buyers would like to take in the price.Asian Metal Copyright "Due to the low requirement for antimony ingot quality from South Korea buyers, we can easily acquire antimony ingot from Guangxi producers with a comparatively low price," said he, adding that a few days ago he had exported 20 tonnes antimony ingot at a price of $3060t CIF South Korea.Asian Metal Copyright On the other hand, it has little possibility to purchase from domestic producers at that level for the moment," said the trader.Asian Metal Copyright As a result, he is inclined to wait for a short while to watch the market development.Asian Metal Copyright As a result, he is inclined to wait for a short while to watch the market development.Asian Metal Copyright "If we can contract with domestic producers at rmb25000t, we have to sell at over $3100t, while no foreign buyers would like to take in the price.Asian Metal Copyright

Meanwhile, a UK based trader claimed due to the current surging antimony price, European consumers would not like to buy in for the time being. "They are waiting for the price going down," said he.