Mainstream domestic prices for 99.65% grade antimony metal have stayed at RMB62,000-66,000/tonne, with little change in the spot market.
Antimony metal prices began to rally from the middle of July driven by China Minmetals\' stockpile purchases. This followed six months of weak prices atRMB56,000-59,000/tonne.
¡°The confidence of antimony metal smelters has gradually faded since the end of stockpiling purchases by major trading companies. Most smelters are worryied about a price decline in the coming month, the traditional off season,¡± a Hunan-based smelter source said.
¡°Prices without VAT paid have fallen to RMB55,000/tonne, RMB2,000/tonne less than the previousRMB57,000/tonne. But lots of smelters claimed that decreased prices keep being unable to attract business,¡± a second smelter source in Hunan province said.
¡°Offer prices for standard grade two material keep running at RMB62,000-63,000/tonne and offer prices for low bismuth material are mainly at RMB65,000/tonne. A price fall is predicted in the coming days in view of price softness in the European market and decline in antimony trioxide prices,¡± a smelter source in Guangxi province said.
Export prices with VAT unpaid are at $10,200-10,500/tonne FOB. Offer prices via legal routes are hovering at $10,800-11,000/tonne FOB.
¡°The softness in the European market last week has damaged the confidence of Chinese traders. Export prices will have to soften along with domestic prices,¡± a trade source said.