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Antimony fall reaches terminal velocity, offers slump 10%

June 22, 2011 - 13:45 GMT Location: London

KEYWORDS: antimony , standard grade , trioxide , China , Minmetals , PBOC , inflation , RRR

• Antimony drops on lower Chinese offers • Market points to large producer inventory • Traders under pressure to destock

MB free-market standard grade II antimony fell to $13,000-14,000 per tonne from $14,700-15,400 previously, as traders and producers in China slashed offers in an effort to destock. Trioxide grade antimony fell to $13,250-14,250 from $14,500-15,200 per tonne previously, as the premium for prompt high-grade material remained in place, albeit at a dramatically lower price level. Explanations from sellers in China were not readily offered, but the suggestion is that a large overhang of stock developed in the market as prices rose to all-time highs of $17,200 per tonne in March, one trader said. “I’m not sure how badly demand dropped off on the way up, but I think producers are...

All material subject to strictly enforced copyright laws. © Euromoney Institutional Investor PLC.

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