IM’s full price listing is only
published online. If you have any comments or concerns, or wish
to discuss any of the grades or prices listed, please contact
Barbara O’Donovan, Industrial Minerals editor
bodonovan@indmin.com.
Magnesia
European fused magnesia prices move up
Davide Ghilotti
Prices of fused magnesia (FM) in Europe have increased in
mid-June, as demand for European material has grown as a result
of supply tightness in China.
The severe lack of FM available for export from China
– the country that produces the largest volumes of
magnesia products globally – has finally caught up
with prices of European-produced material, which are now moving
upwards after months of stability.
According to a 20 June IM assessment,
European FM was at $640-750/tonne FOB Europe, an average
increase of 23% or $130/tonne compared to $480-650/tonne, which
had been in place since last year.
European FM prices had remained stable in 2017 until June
despite anti-pollution related shutdown in Liaoning province,
which led to an almost total stoppage of magnesia production in
the province, the country’s main magnesia hub.
Chinese FM with 97% min. MgO (CA:Si 1:1) spot prices rose
13% or $55/tonne month-on-month to $455-480/tonne FOB China in
April, when sellers still had some material in their
stockpiles. By mid-May, Liaoning had run out of FM.
Sources said this was due to a relatively high level of
inventory available in Europe, which initially delayed the
upward move in prices outside China.
The price increase in the European FM market were expected
for some time. Sellers and traders speaking to
IM in the past month pointed to the production
issues in China, and said that it would lift European
prices.
"It’s only a question of time before European
prices move up as well," one seller told IM in late May.
Another supplier said: "I am fully booked. Usually at this
time of year orders are a bit slow, after the December-March
buying period, but not this time."
A third seller told IM that he had very
little product left for sale at this stage, and was seeing
"robust demand" from both existing and new customers.
The price pressure seems to have so far affected only FM,
which is the material in shortest supply.
Other European magnesia prices have remained stable.
Calcined agricultural magnesia was unchanged at
€240-300/tonne CIF European ports. Electrical-grade fused
magnesia was assessed at $1,500-2,450/tonne ex-works UK.
Raw magnesite, max 3.5% SiO2 content, was also
stable at €65-80/tonne FOB East Mediterranean.
Chinese production to resume
A few facilities are now in the process of restarting but
magnesite mining remained limited. Consequently, high-grade
magnesite raw material – needed to produce FM
– is almost unattainable.
A number of Chinese magnesia suppliers have told
IM for the past two months that FM was not
available at all. They cautioned that, once they restart
production, it may take months to reach required capacity and
be able to meet new orders.
| Magnesia, fused, European, FOB Europe,
$/tonne |
|
| Source: Industrial Minerals |
Ilmenite
Have ilmenite prices peaked?
Cameron Perks
Chinese ilmenite prices continued to stall in June with local
producers and traders reluctant to talk on prices.
Market participants commented that the market remained
unclear, with one trader informing IM that
"most plants have two month’s inventory", which is
placing downward pressure on ilmenite prices.
Two others told IM that "demand for
ilmenite is decreasing", with one adding that they had seen
almost zero sales from the bonded warehouses of the biggest
players, Australia, South Africa, Senegal, Mozambique and
Kenya.
Another trader commented that for ore bought from Australia
for over $200/tonne CIF China during the price surge between
March and early June, the same material was now struggling to
find buyers at $160/tonne.
While various market participants have expressed what seems
to be a hazy and pessimistic view of demand, one trader told IM
that «the steep fall only affected half a dozen
over-leveraged traders», who now have stock originally
intended for a quick turn around, and face growing pressure
from their lenders.
Ilmenite, bulk concentrates min 54% TiO2, CIF
China was last assessed at $200-280/tonne on 22 June basis,
compared with a range of $140-180 at the start of the year and
$90-110/tonne in June 2016.
Prices for FOB Australia ilmenite held at $170-185/tonne for
bulk concentrates and $170-210 for spot material, according to
IM assessment.
| Ilmenite bulk concentrates min 54%
TiO2 CIF China |
|
| Source: Industrial Minerals |
Chromite
Chemical chromite prices slide further
Davide Ghilotti, Yoke Wong
Spot prices of chemical-grade chromite have declined further
in end-June, following continued volatility in metallurgical
chrome ore and persistent low demand in China.
Further pressure from the central government on the chemicals
and tanning industry within China was dampening demand from
chromite consumers in the country.
Chemical chromite, 46% Cr2O3, wet bulk
prices fell to $220-240/tonne FOB South Africa, according to a
20 June assessment.
The benchmark pointed to a latest downward tilt of chemical
material prices, compared with a previous range of
$240-280/tonne.
The decline came after a few weeks of stability, following a
first sharp drop seen in mid-April.
Market participants on the buying and selling side of the
supply chain told IM that lack of demand was the main reason
for the existing price weakness.
Since the beginning of the year, the price of chemical
chromite has almost halved.
Renewed volatility in metallurgical chrome ore prices was
compounding price pressure on chemical grades.
IM’s sister publication Metal
Bulletin last calculated South African UG2 chrome ore index
at $138/tonne CIF China, according to a 16 June assessment.
The index has decreased over the past few weeks, after it
dropped sharply from more than $300/tonne to $151/tonne in
May.
Chemical chromite – which normally carries a
$50/tonne premium over UG2 – has been following the
downtrend of metallurgical grade, but sellers are seeking to
uphold a higher premium.
Some sellers told IM they were hopeful
demand will pick up, as they claim not much material is
available. This, in their view, should support prices.
Foundry-grade material, meanwhile, continued to appear
unaffected by what is happening in metallurgical and chemical
grades.
Suppliers and traders speaking to IM, who
had been quite frank over the difficulties they were facing
with securing orders for chemical material, said that foundry
was still in an overall better shape. They spoke of healthy
levels of demand and firm prices.
IM’s foundry-grade chromite,
46% Cr2O3, wet bulk price stands at
$410-450/tonne FOB South Africa, while lower-purity foundry
material, 45.8% Cr2O3, wet bulk is at
$400-440/tonne FOB South Africa.
Both grades have been unchanged since 22 December 2016.
Controls in China hit chromium chemicals
Slow demand for chemical chromite in China appears to be
affected further by difficulties in the downstream markets of
chromium-based chemicals.
The chromium chemicals industry was one of the many to be
targeted by the Chinese government: the authorities are
enforcing measures to accelerate environmentally-friendly
production.
Under the measures, which were first introduced late last
year, eight industries that involve heavy metal production
– PVC, chromium, inorganic pigments, copper,
lead/zinc, tin/antimony smelting, batteries and leather
– will be inspected.
Clean production technologies will have to be implemented
across these industries to meet targets set under the "Soil
Pollution Prevention and Control Action Plan".
Under the programme, these industries have to apply for new
permits in order to continue operating. As part of the
application, industries have to submit the technology patent or
other intellectual property certificates, industrial and
commercial business licences and other supporting
documents.
The new requirements on documentation have also strained the
operations of chromium chemicals plants, which faced lower
demand as production was capped during environmental
inspections.
"As easy as it sounds, the application for the permit will
still take time," one chromite end-user told
IM.
Another large end-user agreed that the new policy has
resulted in demand pressure on the industry.
"The Chinese government has categorised the chromium
industry as dangerous, so all the transportation is becoming
troublesome," he said.
| Chromite, chemical, 46%
Cr2O3, wet bulk, FOB South Africa,
$/tonne |
|
| Source: Industrial Minerals |
Pricing notice: Proposed change to IM’s
ATH assessment frequency
Industrial Minerals proposes to change the frequency of its
ATH price assessments.
Industrial Minerals proposes to change the frequency of its
ATH price assessment from weekly to monthly, with effect from
10 August 2017.
Assessments currently take place every Thursday, but
following this six weeks’ consultation period,
the Hydrated alumina (ATH), damp (57-60% Al2O3, 5-8%
moisture) bulk, FOB refinery, $/tonne would be assessed at
the same time as IM’s calcined alumina grades on
the first Thursday of every month.
If you have any questions or comments, please contact
Industrial Minerals’ head of market reporting
Yoke Wong at pricing@indmin.com.
Pricing notice: Proposed change to IM’s
andalusite assessment frequency
Industrial Minerals proposes to change the frequency of
andalusite price assessments.
Industrial Minerals proposes to change the assessment
frequency of andalusite from weekly to once a year in order
to reflect annual contracts.
With effect from 10 August 2017, IM proposes to update the
following prices once a year, in Q4, when contracts settle:
• Andalusite, min. 57% Al2O3, FOB South Africa,
€/tonne
• Andalusite, min. 57% Al2O3, CIF Europe, €/tonne
If you have any questions or comments, please contact
Industrial Minerals’ head of market reporting,
Yoke Wong, at pricing@indmin.com.
Barytes
Severe rain storms hit barytes production in
China’s Guizhou
Yoke Wong
Heavy rain storms battered parts of Guizhou province in
China, hitting some barytes (barite) production in mid-June
but operations resumed quickly following emergency repair
work.
A number of cities in Guizhou province in southwest China
were severely flooded with landslides destroying
infrastructure, causing roads and the power supply network to
collapse.
Production facilities at major barytes producer Guizhou
Saboman Micronised Mining Co. Ltd in the city of Guiding was
hit by the natural disaster on 11-12 June and operations were
temporarily halted.
Guizhou Saboman has an annual barytes output of 500,000
tonnes, consisting of both drilling and paint-grade material.
China is one of the biggest barytes exporters in the world and
prior to this storm, production was already impacted by
anti-pollution checks.
"The plant was flooded, office building, workshops,
warehouses were all inundated, resulting in damages to the
machinery and equipment. The landslides have also caused walls
to collapse, the water storage tank to crack," Guizhou Saboman
told IM.
There were varying degrees of collapse on the road leading
to the plant; electric poles and wiring within the facility and
nearby had collapsed due to the storm. Company staff were
trapped in the plant on the day of flooding, but immediate
government rescue work led to a road being repaired on the same
day, assisting evacuation work, the company said.
Following the flooding and landslides in mid-June, Saboman
has completed all repair work and the production resumed one
week later, the company said.
Although Saboman has moved most of their barytes inventory
to a dry area during the flood, some stock was soaked and the
material has had to be downgraded.
Despite the temporary barytes production halt in parts of
Guizhou, deliveries were not impacted and prices held unchanged
week-on-week.
Drilling-grade barytes unground lump (SG4.2) spot prices
held at $80-90/tonne on FOB China basis, while the CIF Gulf
Coast price was also unchanged at $100-110/tonne, according to
IM’s assessment on 22 June.
Paint-grade lump material was assessed at $220-240/tonne on
CIF Gulf Coast basis.
However, a Chinese supplier and US-based trader have warned
that strict environmental control in China is cutting barytes
production, which could support prices in the near term.
| Barytes, drilling grade, API unground lump,
SG 4.20, FOB China, $/tonne |
|
| Source: Industrial Minerals |
Bauxite
Chinese bauxite spot prices rocket higher
Yoke Wong
Chinese bauxite spot prices rocket higher in mid-June as the
government targets remaining illegal calcining operations to
further stamp out polluting facilities, which will slash yet
more supply.
Mining operations in major bauxite-producing regions Shanxi
and Guizhou were mostly suspended in May as the central
government ramped up its anti-pollution controls. Under the
newly enforced measures, calcining and processing plants in
Shanxi and Tianjin were also affected.
Although the majority of plants that did not meet
environmental standards were shut, some continued to operate
illegally at night, two Europe-based traders told
IM.
However, the Chinese environmental teams in Tianjin and
Shanxi are continuing to undertake inspections in order to
control pollution levels. Shanxi government announced on 15
June that it will carry out a special large-scale investigation
on all operations in the province. The government has also
encouraged locals to report any illegal operations.
"Some small unlicenced producers in Xingang, Tianjin,
continue to produce during the night. The Government
Environmental Team in Hebei and Tianjin have been tipped off by
other suppliers that this continues to happen and the
government is now focused on these suppliers and their
customers," one Europe-based distributor told
IM.
As a result, many more plants are expected to shut down in
the coming weeks, market sources said.
Amid heightening anti-pollution control, and the resulting
suspension of production, bauxite stock levels are said to be
depleting quickly, which has supported prices over the past
month.
Spot prices of 85% refractory-grade bauxite (85%
Al2O3/2.0/3.15-3.2/0-6mm) rose to $380-390/tonne on an
FOB Xingang basis, while 86% bauxite increased to
$390-400/tonne, both grades gained $40 compared to early June,
according to IM’s assessment on
15 June.
Smaller volumes of 85% bauxite were reported to have traded
at above $400/tonne in Europe and Asia, but these could not be
verified at the time of publication.
87% bauxite held unchanged at $400-430/tonne, 15 June, while
88% was assessed at $430-470/tonne, up from
$430-450/tonne previously, both on FOB Xingang basis.
| Refractory-grade bauxite 88%/2.0/3.15-3.2
(0-6mm) FOB Xingang |
|
| Source: Industrial Minerals |
Graphite
Chinese flake graphite grade posts price
uptick
Albert Li
Some of China’s large flake graphite and
high-carbon products have started to post an uptick in prices
late-June, as some production areas in the country were
affected by adverse weather conditions and governmental
scrutiny.
According to a 21 June IM assessment, the
price of Chinese flake graphite, 94-97% C, +80 mesh, has
increased to $730-885/tonne FOB China, from $700-855/tonne
previously.
The other Chinese graphite grades have remained
unchanged.
"The price increase is mainly for large flakes like +50 and
+80 mesh, high-carbon and high-purity graphite products," said
Haibo Mo, the deputy general manager of Qingdao Hensen Graphite
Company, a graphite producer in China with factories both in
Shandong and Heilongjiang province.
"Once prices started to increase, even customers who were
not in contact with us for a long time came back. Many existing
customers are demanding the full orders until the end of
2017."
He stated that several reasons were behind the latest price
increase, including drought in Shandong province, which
restricted production. According to historic weather data, no
rainfall was seen in the area of Jinan from late April to
mid-June, with temperatures often above 30°C.
Additionally, output of expandable graphite - a highly
processed downstream product - in China has increased a lot
recently, causing source material supply (large flakes), to
become less available.
Companies’ own business strategies also come
into play: "When prices finally show they are beginning to
rise, sellers usually stockpile the products and wait for the
price to increase more," he said, adding that some prices have
increased by Chinese renminbi (RMB) 500-600/tonne.
"We dare not confirm all the orders through the end of 2017
because we fear that we might lose some profits if graphite
price continues to rise," said one producer in Heilongjiang
province. He added that for domestic sales of large flake,
sellers are now asking for advanced payment, instead of the
customary 30-day credit term.
Other contacts speaking to IM pointed to
other drivers behind the price movement: scarce large flake
production in Inner Mongolia, and restricted use of dynamite
for mining in Pingdu of Shandong province.
Some told IM that the restriction on
dynamite use should have been removed completely in May but
this has not happened yet. In the meantime, only excavators can
be used to mine the exterior of the sites.
| Graphite grade: Flake, 94-97% C, +80 Mesh,
FCL, FOB Qingdao, China |
|
| Source: Industrial Minerals |
Lithium
Lithium spot market steady as contract negotiations
heat up
Martim Facada
The Chinese lithium spot market remained steady in mid-June
with suppliers and consumers describing it as stable for the
time being.
Lithium carbonate spot prices continued to trade between
$18-21/kg, buyers and sellers confirmed to
IM.
Meanwhile IM’s price for large
contract deals on lithium carbonate, CIF China, dipped slightly
or $1/kg to a range of $9-16/kg following the conclusion of
some trades at $9/kg for delivery in Q3.
However, many market participants were still negotiating
contracts for Q3 and H2 contracts.
Market participants attending
IM’s 9th Lithium Supply &
Markets Conference in Montreal, Canada on 29 May – 1
June, acknowledged the extremely wide range of prices in the
market was mostly due to size and standing of the companies
buying material, as well as the timing of negotiating.
While deals at $9/kg is lower than contracts signed at the
start of the year, for some it was still higher than the
previously agreed price.
"Recently, the large orders in China are showing that the
dynamic of the battery prices is stable - not dropping at all,"
a Chinese supplier told IM.
Lithium carbonate prices for large contracts were trading in
a range of $6.50-8.50/kg in June 2016.
Lithium hydroxide (56.5-57.5% LiOH, CIF China) spot prices,
meanwhile, remained stable at $20.50-24/kg, according to
IM’s 10 June assessment.
Producers’ growing focus on hydroxide was a
source of much debate at the Montreal event.
The key raw material for lithium-ion batteries was gathering
more attention as the lithium sector targets the booming EV
battery market.
Some market participants, however, did reveal that they were
disappointed with the EV market dynamics seen in H1, although
that was not deemed enough to quell their enthusiasm for H2.
"EV sales in H1 2017 may have fallen behind in expectations
but we anticipate this market to keep increasing later this
year," a second Chinese lithium supplier told
IM.
"Despite this low expectation, the persisting growth on the
battery market will mean more sales for lithium compounds," the
supplier added.
| Lithium carbonate, min 99-99.5%
Li2CO3, large contracts, packed in
bags, CIF Asia, $/kg |
|
| Source: Industrial Minerals |
Fluorspar
Fluorspar spot prices rise in Europe
Yoke Wong
European fluorspar spot prices jumped in mid-June as
producers outside China finally caught up with the sharp price
spike in the world’s largest producing
country.
Following widespread shutdown of production in China due to
strict anti-pollution inspections carried out since late
February 2017, Chinese fluorspar spot prices have spiked to a
four-year high. To put that into context, prior to February,
fluorspar prices hovered around five-year lows as supply far
outstripped demand.
Industrial Minerals’ acidspar min. 97%
CAF2, wet filtercake prices hit a four-year high at
$380-400/tonne FOB China on 15 June.
China accounts for about 50% of global fluorspar output and
the supply tightness was further compounded by the fact that
the environmental restrictions came at a time of lower seasonal
output levels due to traditional winter production cuts.
Fluorspar prices have largely remained stable outside China
for the past four months as most consumers are covered by
long-term contract amid steady demand. The annual contracts
for delivery in 2017 were concluded at the end of last year,
when prices were low. However, producers have capitalised on
the price uptrend in China to conclude spot business at a
higher rate.
"The wave is going to extend everywhere (…) The spot
prices are increasing, it’s going to move to the
rest of the world," a major producer said.
A fluorspar acidspar consumer in Europe agreed: "The European
market is higher than a few months ago. This price level will
remain high."
A large consumer concluded spot business at $285/tonne CIF
Rotterdam for non-European material, and more consumers have
received indications from producers that prices will be higher
from H2 onwards.
However, the major producer questioned how representative
European spot business is, given that it only accounts for a
small percentage of annual trade.
"On spot, it can be anything if there is a tight situation,
maybe [buyers] are willing to pay more (…) you
can’t afford to stop a plant because of $40
[more for fluorspar]," he said.
"Annual negotiation will be the key," he added.
The annual 2018 fluorspar contract negotiations will begin
in September-October and the agreed prices will be the industry
benchmark.
Although producers outside China have received global
enquiries, including for deliveries to China and Asia, this
indicated there was supply pressure in Asia due to the supply
disruption in China rather than recovery in demand, the major
producer said.
Both producers and consumers agreed that there is no big
improvement in global demand, with the exception of the US
where a recent anti-dumping duty ruling on Chinese refrigerant
has helped to support the local market.
Furthermore, the global supply and demand balance remains
uncertain, as new production capacity is expected to come
online in Canada later in the year.
| Acidspar, 97% CaF2, Wet
Filtercake, CIF, Rotterdam, Holland,
$/tonne |
|
| Source: Industrial Minerals |
White fused alumina
Rising raw material costs support Chinese white fused
alumina prices
Yoke Wong
Chinese white fused alumina (WFA) spot prices will be
supported by rising raw material costs as local producers
reported increasing difficulty sourcing stock amid reduced
availability.
China is one of the largest WFA producers globally and
alumina is the key raw material for the mineral. Spot alumina
prices in China rose on a weekly basis throughout May amid a
smelter restocking drive.
Furthermore, one of the biggest producers, Aluminium Corp of
China Ltd (Chalco), announced in mid-May that it had suspended
approximately 970,000 tpa of alumina capacity across its
refineries, according to IM’s
sister publication Metal Bulletin.
As a result of strong demand amid lower supply, free market
metallurgical grade alumina in China increased to Chinese
renminbi (RMB) 2,500-2,600/tonne ($367-382/tonne) on a
delivered, duty-paid basis, on 1 June, according to Metal
Bulletin.
Alumina prices in early June rose by 12%, or RMB275/tonne,
month-on-month compared with prices on 4 May, according to
Metal Bulletin data.
As WFA producers buy smaller volumes of alumina for fusing
operations compared with smelters, the former pays a premium
for the same material. Chinese WFA producers paid up to RMB
2,700-2,800/tonne ($396-411) for domestic alumina supply, two
producers told IM.
One major WFA producer told IM it was difficult securing
volumes in China, while another Shandong-based producer
reported that availability from Australia is also limited.
The Shandong-based producer was expecting alumina prices to
increase further in the coming weeks, which will support WFA
prices in China.
Nonetheless, WFA (99.0% Al2O3 min, in 25kg bags) prices have
remained unchanged since 6 April at€700-750/tonne
($786-842/tonne) on CIF Europe basis, according to
IM’s assessment on 1 June.
| Fused alumina, white, 25kg bags, CIF Europe,
€/tonne |
|
| Source: Industrial Minerals |
Soda Ash
Soda ash supply tightness in India lifts spot
prices
Yoke Wong
Soda ash spot prices for delivery in India edged higher in
early June due to supply shortage caused by delayed shipments
from Europe.
Two chemical producers in India told IM
that their shipments from Eastern Europe were delayed and they
reported having difficulty sourcing volume from Europe.
One Eastern European producer has confirmed that there were
higher purchase volume from India from March onwards, but the
main causes for the delay was a lack of container vessels and
the sudden increase in freight rates.
While another producer CIECH group spokesman told
IM: "We see bigger demand, more orders we get
than production capacity, we do our best to deliver required
volumes, [but] logistics, weather conditions can influence our
capabilities."
However, delivery was reported to be returning to normal as
two buyers have received their cargo earlier in June.
Synthetic dense and light soda ash prices rose slightly to
$225-235/tonne on a CIF India basis, according to
IM’s assessment on 8 June, up
from $225-235/tonne previously.
Some producers in India also confirmed that they had
received more enquiries as a result of the delays in recent
months, but most domestic production was fully committed on
long-term contracts in 2017, two suppliers said.
Despite higher demand, domestic light and dense soda ash
prices remained unchanged at $250-260/tonne on ex-work basis.
India has a soda ash production capacity of 3.1m tpa but the
country still relies on imports to meet domestic demand.
Detergent is the biggest end-use market for soda ash in
India, and accounts for 39% of the total consumption,
according to an India-based producer. Glass production
follows as the second biggest market at 29%, he added, while
chemical applications is ranked third at 14-15%.
Market awaits anti-dumping duty ruling
Since 2012, India has imposed an anti-dumping duty of
$38.26/tonne on soda ash imports from China, while material
from the US is subjected to a duty of $38.79/tonne.
However, the all India Glass Manufacturers’
Federation (AIGMF) has applied to the ministry of commerce and
industry in 2015 to scrap the import duties as the
circumstances have changed and the duties are no longer
warranted.
The anti-dumping duty case is under review and a verdict from
the high court is due in mid-July.
Some India-based consumers were hopeful that the government
will scrap the anti-dumping duties and under that scenario,
they will switch their supply source to China.
"This anti-dumping duty is going to go in July [….]
So China soda ash will be cheaper than Europe," a consumer told
IM.
While another consumer also held high hopes that he could
soon seek supply from China.
| Soda ash, synthetic dense and light, C&F
India, $/tonne |
|
| Source: Industrial Minerals |
Antimony Trioxide
Global antimony trioxide market under
pressure
Martim Facada
The Chinese antimony trioxide spot market held unchanged in
mid-June but many market participants expects prices could
soften in the coming weeks due to the depressed demand and
quiet business condition during summer.
Spot prices for antimony trioxide 99.5%
Sb2O3 was assessed at $7,780-7,900/tonne
FOB China basis 20 June.
A number of traders told IM that suppliers are keen to sell
material before the summer holiday period and prices were under
downward pressure.
"We have been seeing prices in the market at about
$7,780/tonne FOB China for lots of 20 tonnes. However, we
expect prices to dip even further as demand remains depressed
and Chinese suppliers want to get rid of their stocks," a
Chinese trader said.
A European supplier told IM: "Chinese
producers are trying to keep their offer prices at
$7,800/tonne FOB China, but we have seen business being
concluded below this price and expect the market to keep
moving down."
Europe/US
In the European domestic market, antimony trioxide 99.5%
Sb2O3 prices fell from €7.55-7.75/kg
to €7.20-7.35/kg in-warehouse Antwerp/Rotterdam, according
to the 20 June IM market assessment.
Import prices remained unchanged at $8,000-8,100/tonne CIF
Antwerp/Rotterdam. However, consumers and producers told
IM they expect these prices to soften.
"We have been offering lots of 20 tonnes above €7.30/kg
in-warehouse Antwerp/Rotterdam," a European trader told
IM. "However, our customers have been holding
back.
"We see business being done below our offer prices and will
have to reduce our selling prices if we want to conclude any
business," the trader added.
The US antimony trioxide 99.5% Sb2O3
market has also seen a softening in domestic prices, although
import prices were unchanged.
The CIF East Coast USA delivery basis price remained at
$8,000-8,200/tonne, whereas the domestic price fell to
$3.60-3.70/lb from $3.63-3.75/lb in-warehouse Baltimore
previously.
| Antimony trioxide, typically 99.5%
Sb2O3, 20 tonne lots FOB China,
$/tonne |
|
| Source: Industrial Minerals |