[Ferro-Alloys.com] Antimony prices firmed up in China following the New Year’s holiday even though demand has not revived in the least, market sources said. The price rise may have been sparked by a rumor that the Chinese government is planning a second round of national stockpiling during which it will purchase 4,000mt in March.

 

Chinese domestic prices for antimony metal are up 2,000 yuan per mt to 68,000-70,000 yuan (USD10,932-11,253) per mt, VAT included. Export prices are USD11,600-11,800 per mt, f.o.b. In contrast, European traders reported last week that they had made sales on either side of USD11,000 per mt. There was little business in the US. 

 

China exported 9,583 mt of antimony metal in 2012 vs. 5,062 mt in 2011. The sharp rise in legal exports may be a reflection of the government’s efforts to rein in smuggling. Exports were: 2,857 mt (1,483 mt in 2011) to the US; 2,159 mt (858 mt) to Rotterdam; 1,234 mt (202 mt) to Hong Kong; 1,128 mt (601 mt) to Japan and 941 mt (1,100 mt) to South Korea. In December exports were 1,469 mt vs. 374 mt in December 2011. 

 

China’s imports of antimony ore concentrate continued to increase as domestic resources are on the edge of depletion. Imports in 2012 were 68,585 mt vs. 59,961 mt in 2011. Imports were 18,828 mt (10,704 mt in 2011) from Russia; 13,865 mt (13,812 mt) from Tajikistan; 7,876 mt (6,228 mt) from Burma; 6,086 mt (7,988 mt) from Thailand and 6,807 mt (9,570 mt) from Canada. In other minor metals, bismuth prices continued to strengthen. One company raised its floor price to USD8.80 per lb from USD 8. 55. Selenium sellers reported sales at USD 45 per lb. Chinese spot indium prices firmed to 3,500-3,600 yuan per kg (USD 563-579), VAT included. A few suppliers have increased their offer prices even higher, to 3,650 yuan per kg (USD 587), but no one has bought at that level. Market fundamentals in China are basically unchanged, and business is fairly thin. The higher prices appear to be related to speculation and possibly supply concerns. The supply of raw material crude indium is a bit short as most producers have yet to return from the holiday break. Also, the recent increase in Western prices has encouraged Chinese producers to raise offer prices.