Antimony ingots,Antimony Trioxide offers skyrocketing in China on mine accident

(2009-10-13)12 Oct 09 – The fatal mine accident in Lengshuijiang, Hunan province on 8 October has been stimulating local antimony producers to drive their offers up drastically over the past few days. For fear that the government would shut down all the smelters nearby for safety concerns, many producers either hold back from offering or start to quote as high as RMB43,000-44,000/t (USD6,296-6,442/t) ex works for antimony ingot and RMB39,000-40,000/t (USD5,710-5,857/t) ex works for antimony trioxide. In the meanwhile, consumers take a wait-and-see approach as most of them cannot adopt themselves to the surprisingly high increase in price.
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A Hunan-based antimony ingot producer has ceased offering since last Friday. "We have to be cautious about selling our stocks because once we are required to halt production, the price is bound to rise further," said the source, revealing that as of the end of last week, the production in Lengshuijiang has not been affected by the accident, but most producers in the region are ready to close down to be inspected.
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The source has some antimony concentrate in stock which is enough to produce around 100t of antimony ingot and also holds a stock of 30-40t of antimony ingot. The source revealed that their last deal was concluded at around RMB39,500/t (USD5,783/t) ex works before the National Day holiday for antimony ingot 99.65%min. "We heard that some producers have lifted their offer to RMB43,000-44,000/t (USD6,296-6,442/t) ex works and some quote as high as RMB45,000/t (USD6,589/t) ex works, but I don't think they have real intention of selling, and I'm sure consumers cannot accept such high prices for the time being," said the source.
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A Guangdong-based antimony trioxide producer also plans to not make offers until the market trend get clear. "We cannot get antimony ingot from our suppliers in Hunan, most of whom have suspended selling after the accident happened," said the source.
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According to the source, the company is running normally at the moment with an output of around 200tpm for antimony trioxide. Its stock for antimony ingot can meet their demand for production for another four to six weeks.
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"Since we cannot guarantee the supply of raw material in next one or two months, we're only going to take selected orders from our long-term customers," said the source. Like many antimony ingot producers, the source does not know how to quote for antimony trioxide, either. He added that, "We're fulfilling some contracts signed at around RMB36,000/t (USD5,271/t) ex works in the second half of September, but now we have to quote RMB40,000/t (USD5,857/t) ex works if we receive inquiries."
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Sources believe that the antimony products market will keep stagnant in the following one or two weeks with offering prices soaring but few deals concluded. They do not think it easy for end users to accept prices of RMB43,000-44,000/t (USD6,296-6,442/t) ex works and RMB39,000-40,000/t (USD5,710-5,857/t) ex works respectively for antimony ingot and antimony trioxide. Some of them worry that the dramatic price increase may slow down the market demand, which will probably force producers to lower their prices again.

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Chinese antimony suppliers cease offering

10 Oct 09 – Most Chinese producers and traders cease offering for antimony ingot after the mining accident took place in Lengshuijiang, Hunan province which claimed 26 dead and 5 injured. It is reported that the provincial government will start to shut down smelters and mines in the region to carry out overall inspections. Market sources anticipate a price jump in following few days or weeks.
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A Hunan-based antimony ingot producer who is still running with a monthly output of 70-80t has stopped offering since Friday. "We were informed that the local and provincial government would take an overall inspection on mining safety soon. If we are required to close down, we will have no material to be yielded, so we're unwilling to sell our product from stock," said the source with around 100t of antimony ingot in hand.
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The source reported that the local market has gone chaotic since the mining accident took place. Many smelters have suspended offering and some start to quote as high as RMB39,000-40,000/t (USD5,710-5,857/t) ex works VAT excluded for antimony ingot 99.65%min which was sold at only RMB36,000-36,500/t (USD5,271-5,344/t) ex works VAT excluded in late September. "It's meaningless for suppliers to send offers or for buyers to receive offers, because whatever suppliers quote, they don't want to sell at the moment," said the source.
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A Hunan-based antimony trioxide producer confirmed that most antimony ingot suppliers have ceased offering, and the antimony market situation gets tense. "It's rather difficult to buy antimony ingot from the local market. Most producers are holding back from selling for fear that they will be asked to halt production soon due to the recently happened accident," said the source.
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The source bought a batch of antimony ingot that is used for antimony trioxide production at RMB37,200/t (USD5,447/t) ex works VAT excluded during the National Day holiday but complained that some long-term suppliers refused to sell the material at prices below RMB38,500/t (USD5,637/t) ex works VAT excluded. Meanwhile, the source revealed that major smelters who concluded deals at RMB39,500-40,000/t (USD5,783-5,857/t) ex works before the long holiday also do not send offers, and some claimed that they would not sell the material at prices lower than RMB42,000/t (USD6,149/t) ex works.
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According to the source, not only sellers but also buyers are keeping a close eye on the market trend and also movement of the relevant government.

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Hsikuangshan Twinkling Star accident to drive up antimony price

8 Oct 09 – On Thursday, a serious accident happened in a mine belong to Hsikuangshan Twinkling Star Co., the world largest antimony producer, with 26 miners confirmed dead. Market participants believe this accident would result in a great shortage in antimony supply and hence drive the antimony market price up in the remaing months of 2009.
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On a basis of 26,000tpy capacity, in 2008, Hsikuangshan Twinkling Star produced 21,222t antimony trioxide, of which 13,669t was exported, with the rest of 29,971t sold domestically.
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Hsikuangshan Twinkling Star also produces zinc and indium.
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Hunan is currently the largest antimony production province in China. In 2008, it got output of around 125,000t refined antimony, accounting for 70% of Chinese total of 177,000t.
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Hunan provincial government has required local all antimony miners and smelters to shut down for safety checking.
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According to Chinese practices, all local animony miners and smelters, possibly with other metals producers will stop for weeks to get through the safety checking period.
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As a result, the market might see great shortage for antimony supply in the folllowing months, which will definitely push the antimony price up.

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Chinese antimony ingots,antimony trioxide price up facing the holiday in China

Antimony trioxide price goes upwards supported by higher price of antimony ingot, sources reported to Asian Metal. Some producers and traders raise offers of antimony trioxide 99.5%min to RMB36,500-37,000/t (USD5,344-5,417/t) ex works and USD5,300-5,400/t FOB respectively for domestic sales and exports.
A Hunan-based producer raise offer of antimony trioxide 99.5%min to RMB36,800/t (5,388/t) ex works this week from previous RMB36,500/t (USD5,344/t) ex works due to higher production cost caused by the price increase of antimony ingot. According to the source, the price of antimony ingot has seen another increase in recent one week. "The most recent offer we got from a local antimony ingot smelter is RMB38,000/t (USD5,564/t) ex works VAT excluded, nearly RMB1,500/t (USD220/t) higher than what we received ten days ago," said the source, adding that some antimony ingot smelters claimed that the lowest price they would like to accept is RMB37,500/t (USD5,490/t) ex works VAT excluded.
The source reported that antimony trioxide market is still slow. Many producers only sell the material to regular buyers and seldom do they receive orders from new orders. "End users have been resisting high price for antimony trioxide, but our production cost has been rising on higher antimony ingot price. As a result, we antimony trioxide producers are in dilema," said the source.
To avoid risks, the source only start to produce antimony trioxide when receiving orders. The smelter has produced about 100t of antimony trioxide so far in September, less than half of the production capacity.
A Hong Kong-based trader received an offer of USD5,300/t FOB Chinese main ports from a domestic supplier, up from USD5,200/t FOB China in the middle of September. "Suppliers told us that their production cost rises because antimony ingot price goes up further, and thus they lift the price of antimony trioxdie accordingly," said the source.
The source received a few offers from customers from South Asia and U.S., in past one week with a total quantity amounting to 150t, but most buyers are unwilling to accept the price increase. The source revealed that his lastEpurchase of two containers of antimony trioxide from Chinese suppliers3was concluded at USD5,050/t FOB China in lateJAugust.

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Manganese Metals Flakes market quiet facing the holiday in China

Manganese market goes quiet in China with the participants staying away from the market due to the coming long holiday in early October. There are few offers or inquiries in the market.
A Changsha-based trader reported to Asian Metal that the current market has been quiet and they received very few inquiries recently from both domestic and overseas market. "As we know, most participants in China now are looking forward to the long holiday early next month and show little interest in any deals especially when demand is low and the price is not very attracting," said the source, whose last offer was USD2,150/t FOB for manganese briquette and USD2,600/t FOB for manganese flakes.
The source claimed they have one Indian buyer who usually stays in the market inquiring for one cargo of manganese briquette or flakes. "This is the only inquiry we have recently, but as the price is not workable, we are not ready to make deal," said the source, who would rather wait till till the middle of October when they return after the holiday。
Another Xiangxi-based smelter who has been away from the export market now told Asian Metal that the supply in China stays sufficient and this hinders the price from moving up. "There are offers low at around RMB13,500/t (USD1,977/t) ex works while some others insist on RMB14,000/t (USD2,050/t) ex works," said the source, who offers USD2,600-2,650/t FOB for manganese flakes, about the same price as last week.
The source expects the situation would improve a bit after the long holiday when they think the overseas buyers would have to increase some stocks for the coming months. However, they heard the supply in Rotterdam now is not so tight as early this month.

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Magnesium ingot, Magnesium alloys market still unclear

The future of magnesium market remains unclear. As the eigh-day off is approaching, the market is slowing down with more participants leaving for holidays. Some smelters in Shanxi and Shaanxi have no spot material available, so they raise offers slightly by RMB100-200/t (USD15-29/t). However, most buyers do not react to the price adjustment positively and prefer to wait till the end of the holiday.
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A Shanxi-based consumer, who buys magnesium ingot regularly to produce magnesium alloy, confirmed that he purchased 200t of magnesium ingot at RMB15,600/t (USD2,284/t) ex works from a Shanxi-based producer on Monday. "I always buy magnesium ingot which is of high quality, so concluded prices might be a bit higher," the source explained.
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The consumer, who produced over 400t of magnesium alloy in September, told Asian Metal that some magnesium ingot smelters have no stock in hand now, which may push up the price to some extent. "I think the price will rise after the National Day holiday, for I fail to purchase magnesium ingot at RMB15,600/t (USD2,284/t) ex works today," the source said on Tuesday, adding that some suppliers claimed that they would not sell magnesium ingot at prices below RMB15,800/t (USD2,313/t) ex works.
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A Shaanxi-based producer, whose production capacity is 10,000tpy, claimed that they are still fulfilling the contract signed late last week at RMB15,300/t (USD2,240/t) ex works with package but no acid treatment. "I have learnt that the price is RMB15,100-15,200/t (USD2,210-2,225/t) ex works without acid treatment and package this week," the source added.
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The source conveyed that it is hard to predict whether the future market will be stable or not because the long holiday is coming, but he believes the price won't be lower than RMB15,000/t (USD2,196/t) ex works.

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Magnesium ingot offers in a wide range

Sources reported that the magnesium ingot market has seen more deals concluded over the past ten days with prices in a wide range. Some buyers claimed that they could obtain the material at RMB15,200/t (USD2,225/t) ex works from Shaanxi while some Shanxi-based producers still insist on offers of RMB15,700-15,800/t (USD2,299-2,313/t) ex works.
A Shaanxi-based producer currently offers RMB15,300/t (USD2,240/t) ex works for magnesium ingot but has no spot material to supply. All the output before the beginning ofGOctober has been booked at prices ranging RMB15,150-15,250/t (USD2,218-2,233/t) ex works without acid treatment and package.
According to the source, the magnesium ingot market has become more active since early last week. Many consumers and traders have thrown out orders. Although some smelters keep their offers stable and some even raise offers slightly by RMB50-100/t (USD7-15/t) to RMB15,400-15,500/t (USD2,255-2,269/t) ex works, for they receive more orders, a few smelters who are not so confident in the future market are willing to conclude deals at RMB15,200/t (USD2,225/t) ex works.
The source worries that if more smelters accumulate stocks during the long National Day holiday, the price may experience a slight decrease immediately after the holiday.
The smelter, with a production capacity of 10,000tpy, is running with a monthly output of around 400t.
A North China-based trader just ordered a batch of magnesium ingot at RMB15,200/t (USD2,225/t) ex works from Fugu, Shaanxi to fulfill the signed export contracts. The source confirmed to Asian Metal that magnesium ingot offers stay in a wide range of RMB15,200-15,800/t (USD2,225-2,313/t) ex works. Currently some major Shanxi-based producers still put their offers at RMB15,700-15,800/t (USD2,299-2,313/t) ex works.
"We believe that those who offer RMB15,700-15,800/t (USD2,299-2,313/t) ex works cannot conclude deals at such a high level while others in the region are willing to sell at RMB15,500-15,600/t ex works and those in Shaanxi can accept RMB15,200-15,300/t (USD2,225-2,240/t) ex works," said the source, revealing that the reason that some smelters send high offer is that they have booked out the output in the following few days without spot material in hand.
The source also worries that the magnesium ingot price may retreat slightly in early October as many consumers and dealers have replenished stocks over the past ten days and plan to make some purchases before the long holiday. The source has bought more than 200t of the material in recent one week.

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