SunSirs, Sep 02

1. Price Trend

In August 2019, the market of 1# antimony ingot in China swung lower. The average market price was 38,900rmb/t at the beginning of August, the price was 37,500rmb/t at weekends, it had a 3.60% decrease.

On Aug 31, the Antimony Commodity Index was 52.20, the same as that of Aug 30. Compared with the peak of 102.32 (Oct 16, 2012) in the cycle, it dropped 48.98%. While it was 11.11% higher than the lowest level of 46.98 (Dec 24, 2015). (Cycle: Sep 08, 2012 to date)

2. Quotation Analysis

Upstream and downstream: The chain of antimony industry as a whole followed the trend of antimony ingot, antimony ore and antimony trioxide weakened this month. Antimony trioxide: Affected by the limited demand of the downstream, the price weakened. By the end of the August, domestic antimony trioxide (99.5%) quoted from 31,500rmb/t to 33,000rmb/t, with an average price of 32,250rmb/t. Domestic antimony trioxide (99.8%) quoted from 33,000rmb/t to 34,500rmb/t, with an average price of 33,750rmb/t.

Domestic market: The overall market of antimony swung lower this month. The manufactures still insisted on the price but with limited deals. Downstream users’ demand was flat and they watched mainly. The public judicial auction of 18,660,763kg antimony started by FYME in the middle of august influenced the market of antimony ingot. This week, the panic improved slightly, but it was obvious the downstream users watched the market which was quite. At the end of august, the quotation range of 2# antimony ingot with low density was 35,500rmb/t-36,500rmb/t, with an average price of 36,000rmb/t. The quotation range of 2# antimony ingot with high density was 34,500rmb/t-35,500rmb/t, with an average price of 35,000rmb/t. The quotation range of 1# antimony ingot was 36,000rmb/t -37,000rmb/t, with an average price of 36,500rmb/t. The quotation range of 0# antimony ingot was 37,000rmb/t -38,000rmb/t, with an average price of 37,500rmb/t.

3. Prospect for the Future Market

In September, the market is full of expectations for the so called ‘gold September and silver October’. USD rose contumely and the fall from high levels should be noticed. The rebound in crude has also brought confidence in commodities. The surge of nickel is a source of confidence in the market. Next week, base metals may be able to maintain a steady and upward rhythm. But antimony was still in the off season in August, the demand form downstream was limited, it’s expected that the whole antimony industry will remain weak for some time in the future.