SunSirs: Oct 14

1. Price Trend

This week (Oct 7-12), prices of 1# antimony ingot in China went down. The average market price was 39,750RMB/t at the beginning of this week, the average price was 40,750RMB/t at weekend, it had a 2.52% increase.

On Oct 11, the Antimony Commodity Index was 56.73, 0.7 higher than that of yesterday. Compared with the peak of 102.32 (Oct 16, 2012) in the cycle, it dropped 44.56%. While it was 20.75% higher than the lowest level of 46.98 (Dec 24, 2015). (Cycle: Sep 08, 2012 to date)

2. Market Analysis

Upstream and downstream: This week, following the trend of antimony ingots, antimony trioxide’s prices bottomed out and raised. But the trading volume was limited. On Friday, the average price of antimony trioxide was 99.5% at 3,450RMB/t and 99.8% at 3,600RMB/t.

Domestic market: In the first trading week after the festival, the antimony ingots market was quite confident, most manufacturers'quotations have been raised. Boosted by the 60-day overhaul plan of major domestic factories, the overall price of antimony ingots has risen by about 1000 RMB/t, and the market turnover was still acceptable. By the end of the weekend, the price of 2# low bismuth antimony ingots was 39,50RMB/t, 1# antimony ingots was 40,000 RMB/T, 0# antimony ingots was 41,000RMB/t, and 2# high bismuth antimony ingots was 38,000RMB/t averagely.

Non-ferrous industry: After the National Day holiday, the market has just faced the weakness of important economic data in Europe and the United States. The Federal Reserve was expected to further cut interest rates. The US index hovered near the high point of 99. Domestic metal was pressured firstly. However, with the opening of a new round of high-level trade negotiations between China and the United States, market confidence has been boosted. Prices of domestic metal have rebounded, and some of the declines have been recovered.

3. Prospects for the Future Market

In the next week, domestic and foreign economic data centralized, market expectations are both weak. Under the downward pressure of the global economy, the US dollar index may be under pressure. The development trend of Sino-US trade negotiations will also lay the performance atmosphere of the market. Next week, facing delivery, metal products will be more led by their basic trends, and it is expected that the market will continue to hold firm and the possibility of antimony prices’ climbing is high.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.