European antimony market unlikely to fall

Because antimony is in tight supply and the reason behind is explosive control from Chinese government, many European market participants believe price will not decrease in the coming few months.

A European trader sold a container of 99.65%min standard grade two antimony ingot in the end of last week to a central European consumer at USD6,520/t in warehouse Rotterdam with less than 30-day payment terms. He holds that there is still not much prompt material available in warehouse Rotterdam.

He revealed to Asian Metal that the lowest offer received from China was USD6,450/t CIF Rotterdam last week, and he had the feeling that the Chinese producers are not willing to sell the material.

The trader takes that the demand in Europe is lower than the same period of last year because consumers are not willing to accept high prices, and they wait to the last kilogram of their stock before they come to market. However, with the Chinese low supplies, he is convinced that price will continue to surge.

Another European trader holds that the mainstream price for 99.65%min grade two antimony ingot with bismuth content less than 100ppm is selling in the range of USD6,450-6,500/t in warehouse Rotterdam, and standard grade two antimony ingot is selling at USD6,400-6,450/t in warehouse Rotterdam. According to him, the new offers from China, on CIF basis are about USD70-80/t, including port fee and bank interest, cheaper than the price of material in Rotterdam for prompt release.

He holds that demand is reasonable in Europe, and Chinese governmental control of explosives will keep supply tight through the summer. Although many consumers threaten to leave antimony market for substitute, the trader believes it will not happen easily in short term. Therefore, price of antimony will remain in a high level in the third quarter of 2008, and fall in the end of the year.

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Chinese antimony market climbs up slightly

The price of antimony ingot climbs up slightly with most of the deals concluded at around RMB42,000/t ex works early this week. However, suppliers still receive few inquiries from domestic buyers.

A Jiangxi-based smelter with a monthly production capacity of around 100 tons concluded around 20 tons of regular grade-two antimony ingot at RMB42,000/t ex works last week and another 20 tons at RMB41,500-42,000/t two weeks ago.

The source puts the mainstream price of regular grade-two antimony ingot at RMB42,000-RMB42,500/t early this week, up from RMB41,500-42,000/t last week. "The price seems to go up slightly this week, while we still receive few inquiries currently. We are not sure to what extent it will increase on a current market situation."

A South China-based trader concluded a small-volume deal at the price a little bit higher than RMB42,000/t last week. "Even though the price continues to go up, inquiries from buyers remain few," said the source.

Another South China-based smelter with a monthly production capacity of around 200 tons has not concluded any deals for about two weeks due to low inquiries from buyers. However, he puts the mainstream price of regular grade-two antimony ingot at RMB42,000-42,500/t. "Most of the deals were concluded at around RMB42,000/t and quotations from suppliers have already reached RMB42,300-42,500/t last week."

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Chinese spot magnesium prices extend gains despite mixed views

Hong Kong, May 20 (Platts) - Spot prices for Chinese pure magnesium strengthened further this week with prices ranging at $5,800-5,950/mt FOB China, an upswing compared to $5,600-5,700/mt FOB China quoted a week ago, industry sources said Tuesday.

The market sentiment was mixed among producers and traders in China. Some said prolonged rising raw material prices amid strong domestic demand drove prices up further while others expected prices to retreat soon due to a lack of fundamental support.

One Chinese producer said he heard spot deals in China recently being concluded as high as $6,000-6,100/mt FOB China. "Despite the small export quantity, some spot material was sold at much higher prices," he said. "I believe what is driving prices higher is stronger domestic demand especially from those domestic magnesium powder and alloy producers." He added that his company was now more focused on doing domestic sales. "We favor selling our material domestically as costs on export are higher with the 10% export tariff," he said.

Another producer said spot deals were being concluded at around $5,800/mt FOB China. "Ferrosilicon prices in particular have been strong on concern about the material delivery after the Sichuan earthquake, which in turn triggers higher magnesium prices," he said. Ferrosilicon is a key material used in magnesium production. Local traders said current ferrosilicon prices were quoted at around Yuan 9,000 ($1,290)/mt ex-plant.

A source close to Chinese producers, however, said that major producers in China had expansion plans this year. "With more expected output in the near future, prices should stabilise soon or begin to go down... Some producers raise their offer prices to about $5,800-5,900/mt FOB China to make better profits," he said.

According to industry sources, domestic magnesium prices were quoted at Yuan 35,000-36,000/mt, up from Yuan 34,000-34,500/mt ex-plant quoted a week ago.

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Lead Declines to Lowest in a Year as Stockpiles Grow 42 Percent

May 20 (Bloomberg) - Lead fell to the lowest in almost a year in London as a 42 percent increase in stockpiles in 2008 suggests supply will move into surplus this quarter, from a deficit previously. Aluminum and zinc also dropped.

Lead inventories monitored by the London Metal Exchange have swollen to 64,450 metric tons, the highest since Sept. 25, 2006. The market is moving into a surplus of 40,000 tons this quarter, from a shortfall in the first three months, according to Gayle Berry, an analyst at Barclays Capital in London.

The metal's decline was "a reaction to continued stock build in recent months," Berry said today by phone. Barclays is among 12 companies that trade on the LME floor.

Lead for delivery in three months lost as much as $96, or 4.3 percent, to $2,135 a ton, the lowest since May 25, 2007. It traded at $2,170 a ton as of 4:45 p.m. local time.

Lead, mainly used in car batteries, has lost 16 percent this year, the most among all LME-traded metals. Declining prices will dent sales at producers including Stockholm-based Boliden AB, whose shares have tumbled 10 percent this year.

Purchases in China, the largest user, have slowed this year as buyers wait for the government to release rules in June on the use of electric bicycles, Berry said. Such batteries account for about 20 percent of the nation's lead usage, Berry said.

Zinc slipped for a second day, falling 1 percent to $2,265 a ton on speculation lost production from last week's earthquake in China will be less than initially expected.

Quake Damage

Chinese output may drop by 60,000 tons this year because of smelter damage, Beijing Antaike Information Development Co. said today. The nation will produce 4.06 million tons in 2008, according to Antaike's estimate prior to the May 12 tremor.

"People are now able to assess the damage done by the Chinese earthquake," Thomas Benedix, an analyst at Tiberius Asset Management AG, said today by phone from Stuttgart, Germany. "The uncertainty premium has disappeared." Tiberius, a commodities money manager, has a total of $1.6 billion of funds under management.

The surplus of zinc, used to galvanize steel, will total 700,000 tons this year, according to London-based researcher CRU. LME-tracked zinc stockpiles have swollen 61 percent in the past year to 128,225 tons.

Aluminum lost $25, or 0.8 percent, to $2,970 a ton.

LME-monitored aluminum stockpiles expanded 22,175 tons, or 2.1 percent, to 1.06 million tons, the LME said today in a daily report. The figure is the highest since May 28, 2004. All of the increase took place in Mobile, Alabama. The U.S. is the world's second-largest aluminum producer after China.

Copper Prices

Copper added $5 to $8,320 a ton on the LME. The contract for July delivery increased 0.2 percent to $3.802 a pound on the Comex division of the New York Mercantile Exchange during after- hours electronic trade.

Stockpiles of copper monitored by the LME dropped 75 tons, or 0.1 percent, to 122,650 tons, according to exchange data. About 14 percent of the inventories are earmarked for withdrawal.

Santiago-based Codelco, the world's largest copper producer, yesterday said its new $1 billion Gabriel Mistral mine probably will produce 84,000 tons of refined metal this year, expanding to full annual capacity of 150,000 tons by 2009.

Contract workers at Codelco don't plan any more protests since they are getting bonus payments, Claudio Valenzuela, a spokesman for the Confederation of Copper Workers, said today by phone from the Chilean capital. The union organized a 20-day protest that started in April, which resulted in suspension at three Codelco mines.

Nickel dropped $100, or 0.4 percent, to $26,000 a ton. Tin fell $201, or 0.8 percent, to $23,799.

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Zinc Declines in Asia as Supply Little Changed by Earthquake

May 21 (Bloomberg) - Zinc declined on the London Metal Exchange on expectations that output cuts in China after last week's earthquake would have little effect on global supply.

Production may drop by 60,000 metric tons, or 1.5 percent of this year's estimated output, because of smelter damage, Beijing Antaike Information Development Co. said yesterday. The May 12 quake in Sichuan, China's strongest in 58 years, halted some metals production in the region.

"It's time to sell," said Cai Jie, a trader at Minmetals Starfutures Co., by phone from Shenzhen today. "Zinc is heavily oversupplied, so the estimated loss could hardly change fundamentals."

The metal, used to galvanize steel, will have a surplus of 215,000 metric tons this year after global production expanded, the International Lead and Zinc Study Group said April 24.

Zinc for delivery in three months on the London exchange fell as much as 1.8 percent to $2,235 a ton and traded at $2,240 at 3:00 p.m. in Shanghai. The contract jumped 9.8 percent last week, the biggest weekly gain since November, on concern the quake would disrupt supplies.

Zinc for July delivery fell 2.1 percent to close at 18,120 yuan ($2,603) on the Shanghai Futures Exchange. The special metal for immediate delivery in Changjiang, Shanghai's biggest cash market, traded between 18,200 and 18,850 yuan a ton today.

"Physical buying was very poor as China's government credit tightening curbed demand," said Cai.

Zinc Mining

Chinese zinc miners in Sichuan province have halted ore production on government orders after the quake, according to researcher CBI China Co. Lead miners in the region are almost certain to have halted too, according to Beijing Antaike Information Development Co.

Sichuan, Shaanxi and Gansu together produce around 20 percent of the nation's zinc and lead concentrate, 20 percent of the nation's refined zinc yet very little of the lead metal.

Still, "halted mining in the quake region is having a limited impact as domestic ore supplies are quite ample and prices of imports are attractive," said Zhu Yiman, a CBI analyst from Shanghai.

Shanghai copper declined 1 percent to close at 62,330 yuan and Shanghai aluminum fell 1.7 percent to 18,950 yuan.

Among other LME traded metals, copper was down 0.6 percent to $8,278 a ton, aluminum slid 0.4 percent to $2,986, nickel was unchanged at $26,000, lead fell 1.2 percent to $2,144.75, and tin was down 0.1 percent to $23,650.

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Flame Retardants Master Batch

Flame Retardants Master Batch

Application & Features:

This series products (ABS, HIPS, PP, PE etc) choose import flame-retardant. After elaborate compound, it has not only reliable fire-proofness, but also sound dispersion function and matrix resin affinity, excellent movability-resistance and ultraviolet stability. It is widely used in the flame-retardant & coloration of various products from light colour to deep colour, e.g. TV set, other electric appliance casing, power switch, auto inner ornaments, indoor decorating material etc.

Main Technical Index:

NO	Item	Technical Index
1	Outer appearance	Equal in size,colour&luster
2	Fire-proofness	V-0< 、 V-1 、 V-2 、 HB
3	Movability-resistance	≥ 4 级
4	Uitraviolet stability	Ordinary,sound,excellent

Recommended mixture proportion

（ Decided by flame-retardant requirements and resin varieties. ） (1:3, 1:20)

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Premier Wen calls for nationwide efforts in rescue, relief after "most destructive" quake since 1949

Special report: Strong Earthquake Jolts SW China  

·Rescue operation and disaster relief are of top priority of the nation, Premier Wen said.
·"Saving lives is still our top priority, as long as hope of survival still exists."
·He said supplies of food, medicines, and tents must be ensured.

Chinese Premier Wen Jiabao greets local people during an inspection in Muyu Township of Qingchuan County, one of the worst-hit area of Guangyuan City in southwest China's Sichuan Province, May 15, 2008. Wen is here to oversee rescue work and visit survivors.(Xinhua/Tao Ming) Photo Gallery>>>

    CHENGDU, May 16 (Xinhua) -- Rescue operation and disaster relief for victims in the worst earthquake over decades are of top priority of the nation, and thus require concerted efforts from the whole country, Chinese Premier Wen Jiabao said Thursday night.

    Monday's 7.8-magnitude earthquake that ravaged southwestern Sichuan Province and was felt in most parts of the country was the "most destructive" tremor and had the "most wide-spreading impact" since New China was founded in 1949, Wen said on a meeting of the rescue headquarters under the State Council headed by himself.

Chinese Premier Wen Jiabao (L) comforts local people in Muyu Township, Qingchuan County, southwest China's Sichuan Province May 15, 2008. Qingchuan County is one of the worst-hit areas in Sichuan Province. Premier Wen is here to oversee rescue work and visit survivors. (Xinhua/Yao Dawei) Photo Gallery>>>

    It was even more powerful than the Tangshan earthquake in 1976,Wen said. The catastrophe in northern Hebei Province claimed about240,000 lives three decades ago.

    He hailed the efficiency and order the country has maintained for the past 80 hours as the country focused its resources on saving lives and disaster relief work for quake victims.

    He said the government will stick to its "people-first" policy in its future rescue operations and reconstruction works.

A mother deadly cries after knowing her child lost life in the devastating earthquake in Sichuan Province May 15, 2008. (Xinhua/Yao Dawei) Photo Gallery>>>

    "Saving lives is still our top priority, as long as hope of survival still exists," Wen said, urging that social stability to be maintained.

    He warned relevant authorities to pay special attention to the prevention of plagues.

    He said supplies of food, medicines, and tents must be ensured.

    More than 50,000 people are feared dead in Sichuan alone after Monday's earthquake, with confirmed death toll in the province hitting 19,509 by Thursday afternoon.

Emotional premier moves Chinese amid quake effort

    BEIJING, May 15 (Xinhua) -- Few things other than stories of victims rescued following China's most deadly earthquake in 32 years would touch the Chinese heart now. But the emotional Premier Wen Jiabao did. Full Story

Premier continues inspection in quake-hit Guangyuan

    BEIJING, May 15 (Xinhua) -- Chinese Premier Wen Jiabao arrived at Guangyuan City in southwest China's Sichuan Province here Thursday morning. Wen spent three hours by ship to go to Muyu Township, Qingchuan County, one of the worst-hit area of Guangyuan City to oversee rescue work and visit survivors. Full Story

Premier orders deployment of 90 more helicopters for quake relief

    BEIJING, May 15 (Xinhua) -- Chinese Premier Wen Jiabao has ordered the armed forces and civil aviation department to deploy 90 more helicopters for rescue missions in quake-hit Sichuan province. Full Story

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