Antimony Ingot, ATO Prices Hit 10-Year High on Multiple Favors

Antimony Ingot Prices Hit 10-Year High on Multiple Favors

Recently, the antimony market has experienced significant price fluctuations, triggering widespread concern within and outside the industry. Since mid-April 2024, domestic antimony ingot prices have continued to climb, with the average price breaking through the important 100,000 yuan/tonne mark after the May Day holiday, setting a new record for the past 10 years.

Domestic market

According to market sentiment analysis, the average price of domestic 1# antimony ingot market on April 15 was 91,250 yuan/ton, while by May 22, the average price had risen to 100,500 yuan/ton, with a cumulative increase of 10.14%. Monthly data also shows that the antimony ingot market since the beginning of the year as a whole showing an upward trend, the January increase is particularly significant, reaching 11.69%. Recent increase, 10,000 yuan / ton / day.

International markets

In the international market, the price of antimony, a strategic minor metal in Europe, has also shown a continuous upward trend, and as of May 22, the offer has reached $14,950/tonne, up $2,100/tonne from the beginning of the cycle. This price increase, undoubtedly for the domestic market has brought a positive signal, the spot market bullish mood is strong.

Supply side: antimony ore imports blocked raw material supply is tight

On the supply side, due to the influence of overseas geopolitical factors, the import of antimony concentrates from some countries has been hindered to a certain extent, especially the import situation in Russia is not ideal. This led to the domestic smelting enterprises raw material supply is tight, enterprises generally take the strategy of selling, plant inventory to maintain at a low level.

Demand side: downstream into the market actively end consumption is expected to be better

The demand side is relatively optimistic. Antimony's traditional application areas, the demand for flame retardant materials accounted for up to 55%, in addition, lead-acid batteries, polyester catalyst and glass ceramics and other fields also have a stable demand for antimony. Particularly noteworthy is that antimony, as an indispensable element in the production of photovoltaic glass, is expected to usher in significant growth in the application of antimony metal in the field of photovoltaics as the photovoltaic industry booms in China.

Antimony oxide market also shows a similar rising trend with antimony ingot, since April, antimony oxide prices rose between 7,000-10,000 yuan/ton. At present, it is difficult to obtain low-priced raw materials in the market, and downstream enterprises are actively inquiring for quotations and replenishing stocks. Driven by the trade-in policy, the demand for antimony for flame retardants is expected to maintain good growth.

Specifically for the price change of antimony trioxide, from April 1 to May 22, the price of antimony trioxide of 99.5% specification increased by RMB20,000/ton to RMB105,000/ton, while the price of 99.8% specification increased by RMB30,000/ton to RMB115,000/ton.

Outlook of the future market

With the rapid growth of domestic photovoltaic industry, the market expectation of antimony usage in photovoltaic industry also continues to be favorable. Statistics show that the new installed capacity of PV in 2023 increased by 148.1% year-on-year, and it is expected that the demand for antimony in the field of PV will realize rapid growth with the increase in the penetration rate of double-glass components.

All in all, the rising price of antimony market and the growth of industry demand have jointly driven the prosperity of the market. As an enterprise producing flame retardants, we should pay close attention to the market dynamics and grasp the development opportunities of the industry in order to realize sustained business growth and market competitiveness.

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