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Antimony price at new all-time high

Update:2011-03-24 11:02:05  Source:AntimonyNet  Author:violin Return

Antimony rose to new all-time highs on Wednesday as Chinese producers continued to demand higher prices for material.

Standard grade II and trioxide grade antimony rose to $16,200-$17,000 on Wednesday, from $15,500-$16,400 previously, and market participants expect China to drive prices higher still throughout the year.

"hey are targeting $20,000 now, no question about it, and from there, who knows how much further?" US trader said.

In domestic market, though the offer of antimony ingot in this week does not increase as fast as before, the closing price still rose to RMB105,000-108,000t USD16,006-16,463t with several deals closing at around RMB110,000t USD16,768t in Hunan and Guizhou.

The concluded price of flame retardant antimony trioxide is in a wide range from RMB94,000-98,000t USD14,329-14,939t. A Hunan-based antimony trioxide producer whose output is around 300tpm claimed that he sold flame retardant antimony trioxide 99.5%min at RMB96,000-97,000t.

Market participants told the offer of antimony concentrate continues going up owing to tight supply. A Hunan-based buyer of antimony concentrate revealed that the closing price of antimony concentrate 50% at RMB880-910mtu.

Despite steady prices, demand for antimony in the Brazilian market remains sporadic as consumers and end-users continue to only purchase material when absolutely needed due to the strong prices. The price for antimony metal 99.65%min in the Brazilian market held at USD18,000-18,500t this past week. Prices are expected to increase domestically.

Demand for antimony remains light in the US market as replacement costs keep a strong positive trend in China. The Chinese market has seen linear price appreciation since late Q3 2010 with the initial smelter closures to keep within the environmental guidelines, and now the added difficulty to acquire antimony concentrate for the ingot production. Prices for antimony metal 99.65%min in the US market are currently at USD7.65-7.85lb; an increase of more than USD0.45lb over the past two weeks.





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