U.S. antimony trioxide market

As U.S. Dollar has been weakening in the passed several months, American market participants are complaining that imports has become more expensive than before, and antimony trioxide price is up from USD2.4/lb ex-warehouse to currently USD2.5/lb, but as price is going up, antimony demand has not been affected.

A west coast trader told Asian Metal that price of antimony trioxide is increasing along with the antimony ingot price. For the Chinese 99.5%min antimony trioxide, offers have been raised from USD2.40-2.43/lb to currently around USD2.5/lb ex-warehouse. Twinkling Star antimony trioxide is USD0.03-0.05/lb more expensive.

According to him, the demands of antimony trioxide from his customers have not dropped because of higher prices and most of the material was bought for producing flame retardant. "European consumers may be more sensitive about prices, but American manufactures are more focused in keeping their normal production to catch up the downstream demand," remarked the trader.

Another trader also claimed that the demand is keeping stable in the U.S. market but there are fewer traders in the States who deal with antimony or antimony trioxide. He claimed that major consumers have changed the purchasing strategy as they are now buying from fewer suppliers.

"One of the major buyers used to source material from more than five suppliers including producers and traders, so they were able to buy at cheaper prices. However, they only buy from one or two suppliers now at higher prices, and the suppliers could deliver the raw material as contracted," the source revealed to Asian Metal.

He confirmed the price has gone up to USD2.5/lb ex-warehouse in the American market and he thinks price will remain at the current level for the coming months.

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Zinc market summary Oct 2007

Spot zinc ingot price keeps downward movement in Chinese market this week, and consumers still purchase with a small quantity for fear that the price would continue to drop in the short term. Concluded deals are thin in Chinese spot zinc market.

3-month zinc on LME market trend is unclear. The price drops from USD2,955/t last Friday to USD2,880/t this Monday, though zinc inventory reduces by 200t. In the rest of this week, the price fluctuates slightly and reaches USD2,865/t this Thursday, down by USD15/t compared with that early this week.

Different from 3-month zinc on LME, Chinese spot zinc ingot price drops greatly. The price declines by RMB300/t (USD40/t) to around RMB25,850-25,950/t (USD3,451-3,465/t) this Monday, down further to RMB25,450-25,550/t (USD3,398-3,411/t) on Tuesday. In the rest of this week, the price fluctuates slightly and stabilizes at RMB25,300-25,400/t (USD3,378-3,391/t).

Market sources pointed that Chinese zinc market remains soft, resulted from large stocks in domestic market and the increase of imported zinc ingot supply. Meanwhile, zinc consumers are reluctant to rebuild large stocks under falling prices. In view of the weak fundamentals of zinc market, participants hold pessimistic attitudes towards the future market.

In line with zinc ingot market, zinc concentrate price falls greatly. Miners revealed that it is difficult to conclude deals this week, since many major smelters begin to import the materials with low prices. The mainstream price of zinc concentrate 50%min is at around RMB16,200-16,700/t (USD2,163-2,230/t) delivered to buyers.

Compared with above markets, zinc oxide market keeps relatively stable. Zinc oxide 99.7%min price is at around RMB25,000/t (USD3,338/t), on a par with that two weeks ago.

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Antimony market summary Oct

Antimony market witnesses a week of calmness with few activities taking place both domestically and overseas. As the market demand shows no signs of recovering, many participants predict that the market will continue to stand still in the near term.

A few deals were concluded at around RMB40,000-40,200/t (USD5,355-5,382/t) ex works for standard grade-two antimony ingot during the week, and some major smelters, qualified suppliers for antimony products, claimed deals of RMB40,300-40,500/t (USD5,395-5,422/t) ex works for materials with superior quality and famous brand name. Meanwhile, some smelters who hold positive attitudes towards the future market refuse to sell any below RMB40,000/t (USD5,355/t) ex works. However, some antimony trioxide producers disclosed that they could obtain materials at around RMB39,800/t (USD5,328/t) ex works from long-term suppliers in Hunan.

The export market for antimony ingot keeps quiet with many market participants complaining about the lack of deals. Few foreign buyers are showing interest in buying from Chinese state-owned exporters due to their high offer of USD5,700-5,800/t FOB. Although some traders received one or two inquiries during the week, they reported no response after they made offers to buyers. Many participants attribute the severe smuggling to the dull export market for antimony products, revealing that European buyers can easily obtain antimony ingot at USD5,550-5,600/t CIF Rotterdam for materials with undisclosed origin.

The European market for antimony ingot also keeps slack. Only some small deals of few tonnages were reportedly concluded at around USD5,600-5,650/t in warehouse Rotterdam for standard grade-two material and around USD50/t higher for grade-one material..

The antimony trioxide market also has not changed much during the past few weeks. Domestic prices are still around RMB36,300-36,800/t (USD4,859-4,926/t) ex works, and export prices stand at USD4,800-4,850/t FOB. Meanwhile, products with famous brand are offered at a higher price of USD4,900/t FOB or USD5,000/t CIF Rotterdam. However, limited deals were heard of in both domestic and export markets during the week.

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China Antimony market news

Commenting on the stockpile in Rotterdam warehouse, he holds that most of the material shipped to Rotterdam before the summer holiday was already consumed. When he analyzed the market in the future, he was of the view antimony trioxide price would be stable as antimony ingot sells at high price level and the consumers are reluctant to accept higher prices.

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Antimony ingot market stable with few deals concluded

Antimony ingot market keeps stable with the prevailing price of RMB40,000-40,300/t ex works. Although not many transactions are concluded, the price does not change much.

A consumer from Guangdong told Asian Metal that they just purchased 120t of antimony ingot at RMB39,800/t (USD5,300/t) ex works from a long-term supplier in Hunan, but acknowledged the prevealing price is around RMB40,000-40,200/t (USD5,326-5,353/t) ex works. The source revealed that the offer for grade one antimony ingot is around RMB40,500/t (USD5,393) ex works, but most deals were closed at RMB40,200-40,300/t (USD5,353-5,366/t) ex works. "The market keeps comparatively stable, though transactions are not many," said the source.

Referring to the international market, the source forecasted that the export market might move up slightly in the near term with the coming of Christmas Day, thinking the consumers may purchase some materials for stock. However, it still needs time to see the market direction.

Zhazixi Antimony Mine of Hunan Anhua concluded a deal of 20t at RMB40,300/t ex works. According to the source, if the quantity reaches 60t, the concluded price will be 40,300/t (USD5,366/t) delivered to Guangdong. The source revealed that the mainstream price is ranging RMB40,000-40,200/t (USD5,326-5,353/t) ex works.

65 attendees present at a meeting yesterday, resolved that Metallurgical Construction Corporation (MCC) would take over the smelter, which will be submitted to the State-owned Assets Supervision and Administration Commission for approval. The smelter will expand its capacity if the above resolution is approved.

Participants think the antimony ingot market will keep stable, and if transactions increase, the price may go up slightly in the future.

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China's Iron, Copper Ore Imports up

China imported 250 million tons of iron ore fines in the first eight months of 2007, a growth of 14.5 percent year on year, according to latest statistics released by the General Administration of Customs.

The arrivals were valued at 19.61 billion U.S. dollars, up 43.8 percent.

Customs sources said the import price of iron ore fines from January to August averaged 78.2 U.S. dollars per ton, up 25.5 percent compared with the same period of last year. The price soared to 89.8 U.S. dollars per ton in August, up 36.9 percent year on year.

Experts held that the hike of iron ore fines price was mainly triggered by the rocketing freight cost, which by the end of this June had more than doubled the year-earlier level. The mounting cost was due largely to the shortage of international shipping capabilities.

In a related development, the nation's imports of copper ore fines in the first eight months this year went up 35.9 percent year-on-year to 3.192 million tons, which were valued at 6.01 billion U.S. dollars, up 63.2 percent.

The average price of the arrivals in the Jan.-Aug. period rocketed to 1,882 U.S. dollars per ton, up 20.1 percent year on year.

The nation has scarce copper ore resources and mainly imports copper ore from Chile, Peru, Mongolia and Australia to fill up the gap between supply and demand.

According to the latest report of International Copper Study Group, world supply fell short of demand by 130,000 tons in the first half of this year after seasonal adjustment. The short supply gives strong support to the copper price hike.

With the brisk domestic demand for copper, industrial insiders predict that the nation's copper price will continue going up in the fourth quarter of this year.

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Housing Prices Jump on Rising Demands, Costs

Rising demand and costs are driving up average housing prices across China, National Bureau of Statistics spokesman Li Xiaochao told a news conference on Thursday.

Average housing prices in 70 major cities jumped 8.2 percent in the third quarter of this year, compared with 6.3 percent in the second quarter and 5.6 percent in the first quarter.

Over the first three quarters, housing prices grew 6.7 percent, led by the city of Shenzhen in southern China's Guangdong Province, Li said.

Prices in Shenzhen jumped 15.7 percent in the period from a year earlier, followed by Beihai (12.1 percent) and Beijing (10.1 percent), Li said.

Prices for new residences grew 7.2 percent in the nine months and prices for second-hand homes rose 6.6 percent.

Li didn't provide any figures for Shanghai.

The rapid growth of China's economy and average incomes spurred the demand for houses, along with speculators buying multiple homes, Li said.

"The inadequate supply also helps stimulate housing prices, especially the supply of lower priced homes," Li said.

The rising cost of land acquisition and higher prices of construction materials contributed to the growth of housing price, Li said.

In the first three quarters, the trading price for land rose 12.8 percent on average in the 70 major cities, with 15-percent growth in the third quarter, Li said.

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