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Chinese antimony metal smelters raise prices on the back of stockpile purchases

Update:2013-08-29 11:02:01  Source:AntimonyNet  Author:zhao Return

Chinese antimony metal smelters raise prices on the back of stockpile purchases

BEIJING (Metal-Pages) 19-Aug-13.  Chinese antimony metal smelters raised prices on Monday on the back of ongoing stockpiling purchases from major antimony companies, trade sources said.

Prices for 99.65% grade antimony metal have picked up to RMB60,000-64,000/tonne, from last weeksRMB59,000-63,000/tonne.
 Antimony metal prices began to rally from the middle of July, when they stood at RMB56,000-59,000/tonne. Prices have picked up byRMB5,000/tonne since then. Major antimony companies keep stockpile purchasing antimony metal, which is support the price rise. We are now offering RMB64,000/tonne and most material has been traded atRMB61,000-62,000/tonne in local market, a smelter source in Hunan province said.
 But purchases of antimony trioxide are inactive because most antimony trioxide smelters think that current antimony metal prices are too high to accept. Antimony trioxide prices have not seen much improvement since the middle of last month as a result of abundant stocks. I think antimony metal prices will slowly inch up in the coming weeks, a second Hunan-based smelter source said.
 Export prices for antimony metal have stayed at $9,500-9,900/tonne FOB, little change over the past two weeks. Offer prices via legal routes remain unchanged at $10,500-10,700/tonne FOB.
 Traders are unwilling to sell because export costs are high due to increasing domestic prices and closing of illegal routes.
 It is hard for us to obtain profits even at $9,500/tonne FOB. We are expecting higher export prices in the coming weeks when overseas buyers are expected to refill stocks, a trade source in South China said.

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