Weekly Report: Antimony Prices Surge with a Weekly Increase Exceeding 25% (11.7–11.14)

Weekly Report: Antimony Prices Surge with a Weekly Increase Exceeding 25% (11.7–11.14)

Market Overview

This week, international antimony prices continued to decline, ranging between $42,000 and $47,000 per metric ton. This trend is primarily driven by a steady increase in the supply of antimony concentrate and ingots from Southeast Asia, which has intensified sales pressure in the market. The combination of rising supply and the ongoing price downturn has further heightened market caution. Buyers, adhering to the mentality of buying in a rising market but not in a falling one, have shown reduced purchasing enthusiasm. As prices had previously surged rapidly in the international market, some market participants had already stockpiled antimony products. With prices now falling, a clear bottom has yet to emerge. Overall, the supply-demand dynamics are unlikely to see fundamental improvements in the short term. It is expected that international antimony prices will remain under pressure, and the downward trend may persist.

Domestically, antimony prices experienced a sharp surge this week, with the weekly increase far exceeding the levels seen at the beginning of the year. The highest single-day price increase reached 10,000 yuan per ton. Specifically, the price of #1 antimony ingot rose sharply from 145,000 yuan per ton last weekend to 180,000 yuan per ton, while 99.8% antimony trioxide jumped from 130,000 yuan per ton to 160,000 yuan per ton. As prices rapidly climbed, hoarding and holding back sales emerged in the market. Most smelters suspended public offers to mitigate risks, providing quotes only to regular customers while monitoring market sentiment. It was not until Friday this week that some companies gradually resumed offering prices, though the quantities available for sale remained limited for the time being.

Customs data from China, Thailand, Tajikistan's quarterly exports, and September figures from Japan, South Korea, and the United States have been partially updated. The table below shows the import and export volumes of these countries from January to September. The flow of raw materials from Thailand is becoming increasingly noteworthy. The rise of smelters in various regions, changes in the volume of traded antimony products, and shifts in the export volumes to countries that were traditionally major destinations for China all reflect certain underlying issues.

In the photovoltaic glass sector, as of Thursday this week, the national daily melting capacity for photovoltaic glass remained at 89,380 tons. The photovoltaic glass market this week showed a loose supply-demand balance. Although prices temporarily stabilized, the overall market sentiment remained weak. Demand continues to be sluggish, with many companies reporting difficulties in achieving a balance between production and sales. Downstream module manufacturers are facing increased price expectations, while end-user power plants show low acceptance, leading to intensified negotiations and a contraction in module orders. This, in turn, has directly impacted the actual procurement demand for photovoltaic glass, with order shortages becoming evident. On the supply side, one production line underwent edge guiding operations this week, and another new production line was ignited, leading to a slight increase in industry supply capacity. However, it is expected that a production line will undergo cold repairs next week, reducing daily output by approximately 1,200 tons. Under the dual pressures of supply and demand, industry inventories continue to accumulate, and it is anticipated that inventory levels will rise further next week, equivalent to about one day's consumption. Although the market has temporarily stabilized at this stage, the deepening oversupply situation suggests that further price adjustments remain possible.