SunSirs: Antimony Ingot Market Has a Stable Price this Week (December 23-27)

1. Price trend

On December 27, the antimony commodity index was 54.47, unchanged from yesterday, down 46.77% from 102.32 (October 16, 2012), the highest point in the cycle, and up 15.94% 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: the price of antimony oxide was stable and the transaction was light on Wednesday. As of Friday, the average price of antimony trioxide was 99.5% at 34,000RMB/ton and 99.8% at 36,500RMB/ton. In terms of raw materials: the delivery and investment of mining enterprises are light, some mines are still shut down for maintenance in winter, the price of raw materials is relatively stable, and the overall market is stable.

Domestic market: the market price of antimony ingot is stable this week, and the market is affected by the stock before the festival, so the trading is more active than before. In terms of price, as of Friday, the average price of 2# low bismuth antimony ingots was 37,500RMB/ton, 1# antimony ingots was 38,000RMB/ton, 0# antimony ingots was 39,000RMB/ton, and the average price of 2# high bismuth antimony ingots was 35,000RMB/ton.

Nonferrous Industry: closed for Christmas holiday this week, LME has only three trading days, and most of the external market is to reduce positions, while the domestic market keeps moving forward steadily due to the economy, and the Central Bank of China increases the reverse repo operation in the open market, so that the end of the year funds remain abundant, A-share stands at 3,000 points, and the basic metals keep a strong momentum of rising under the guidance of copper bulls.

3. Future prospects

Next week is facing cross year market. On New Year's day on Wednesday, the domestic and foreign commodity markets are closed. In the first half of the week, the market is cautious in light trading. In the second half of the week, at the beginning of the 2020 new year, the macro environment is still in optimistic mood. However, according to their own fundamental characteristics, each item may increase its position trading in the new year in an orderly manner, and the spot market will also open a new page in 2020.

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