1. Price trend
On February 28, antimony commodity index was 58.64, flat with 27th, down 42.69% from 102.32 (October 16, 2012), the highest point in the cycle, and up 24.82% from 46.98, the lowest point on December 24, 2015. (Note: cycle refers to September 8, 2012 to now).
2. Market analysis
Upstream and downstream: on Wednesday, the price of antimony oxide partially fell. As of Friday, the average price of antimony oxide was 99.5% at 37,000 RMB/ton, down 500 RMB/ton compared with last week, and 99.8% at 39,500 RMB/ton, maintaining stability.
Domestic market: this week's antimony ingot Market is relatively stable. After the sharp rise in the first half of the month, the price of this week is relatively stable. The main domestic manufacturers are gradually back to work this week, but there is still a process for production recovery. At present, the enterprises are mainly limited in sales, and the price is up to Friday 2# low bismuth antimony ingot: 41,000 RMB/ton, 1# antimony ingot: 41,500 RMB/ton, 0# antimony ingot: 42,500 RMB/ton, up 2,000 RMB/ton compared with last week. The average price of 2# high bismuth antimony ingots was 36,500 RMB/ton.
Major domestic events:
National Bureau of Statistics: according to preliminary accounting, the annual GDP in 2019 increased by 6.1% over the previous year: according to the statement released on its official website on the morning of the 28th day of the National Bureau of statistics, the annual GDP in 2019 was 99,086.5 billion yuan, an increase of 6.1% over the previous year. Among them, the added value of the primary industry is 7,046.7 billion yuan, an increase of 3.1%; the added value of the secondary industry is 38,616.5 billion yuan, an increase of 5.7%; the added value of the tertiary industry is 53,423.3 billion yuan, an increase of 6.9%. The added value of the primary industry accounts for 7.1% of the GDP, the added value of the secondary industry accounts for 39.0%, and the added value of the tertiary industry accounts for 53.9%.
China's official manufacturing PMI in February: 35.7 predicted value: 46; top value: 50. In February, the comprehensive PMI output index was 28.9%, 24.1 percentage points lower than last month, indicating that the overall production and operation activities of Chinese enterprises slowed down. At the same time, the survey results show that with the overall promotion of epidemic prevention and control and economic and social development, the recovery rate of enterprises is picking up rapidly, and production and operation activities are recovering in an orderly manner. It is expected that China's purchasing manager index will improve in March.
Industry: the global epidemic spreading crisis has raised the market's worries about the economic downturn. The global stock market has plummeted, and the risk aversion mood has made gold reach a new high, the bulk commodities have been sold down, and the basic metals at home and abroad have fallen sharply.
3. Future prospects
From March, the domestic epidemic situation has improved, the return rate of enterprises has increased, and the capital pressure of enterprises at the beginning of the month has eased. However, at present, the spread of the epidemic in the world has increased, global investors are worried that it is difficult to calm down, the selling strength of bulk commodities has not decreased, and domestic metals are afraid to be dragged down.
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