Antimony prices rose on Wednesday as demand improves and supply tightens in European and Asian markets. Trioxide-grade antimony rose to $14,800-15,200 per tonne, from $14,500-$15,100 per tonne. Standard grade II antimony rose to $14,600-15.000 per tonne.
Following the price increase of antimony ingot and trioxide, part of antimony ore suppliers raised their offers, however, as some suppliers hold high expectation to the future market, they hold back from selling now.
The price of antimony ingot 99.65%min increased by RMB2,000t since early this week to RMB91,000-91,500t USD14,241-14,319t ex works or RMB81,000-81,500t USD12,676-12,754t VAT excluded currently, but part of suppliers claimed that they do not have many inventories and are reluctant to sell.
Demand continues weak for antimony metal in the US market as consumer refrain from intake and keep their purchasing patterns to small volumes for immediate consumption. According to US sources, figures for antimony metal 99.65%min remain at USD7.15-7.35lb; reporting no change compared to last week. Market participants expect numbers to keep steady in the next week-or-two, however, appreciation is likely in September as consumers prepare for Q4 production.
With the end of the European summer holiday less than a week away, antimony ingot prices appear to have hit a bottom. European sources confirm that antimony ingot 99.65%min prices have stabilized at the USD14,500-15,000t in warehouse Rotterdam range. Sources anticipate that increased demand from European consumers and constrictions on Chinese exported product will both contribute to price increases during the latter half of September.