((Reuters automated translation, please see disclaimer https://bit.ly/rtrsauto)) by Anjana Anil and Ashitha Shivaprasad
Antimony prices set to hit record highs as consumers seek alternative sources of supply following China’s latest export ban, as growing trade tensions shift market dynamics for the materials reviews.
Last month, China banned exports of gallium, germanium and antimony to the United States.
Prices for antimony ANT-LON, used in semiconductors and military applications, have reached all-time highs, currently trading between $39,500 and $40,000 per metric ton in Rotterdam as of December 31. Prices increased by around 250% in 2024.
Traders expect prices to rise above $40,000 per tonne following China’s ban amid a global supply shortage.
“We have already sold small quantities at $40,000,” said a minor metals trader in Europe. “Non-Chinese sellers will charge more to maximize their profits
China produced nearly 50% of the world’s antimony supply, estimated at 83,000 tonnes last year, according to data from the US Geological Survey (USGS).
Traders said China’s bans are part of a strategy to consolidate mineral production internally.
“The U.S. has already diversified its supply chains away from China where possible, buying more from Southeast Asia,” said Ellie Saklatvala, head of nonferrous metals pricing at Argus. “However, it is not clear in the short term how they will be able to fill the void left by China
China also banned gallium exports
GALL-ING-LO and germanium GERM-DIOX-LON to the United States, but this measure will have only a limited impact because the United States has stopped purchasing these essential minerals from China.
“Markets are still made of people and not just fundamentals, so some upward pressure is expected as traders exploit the ban to drive up prices,” said Theo D. Ruas, Global Sales Manager, Metals & Compounds at Indium Corporation.
“China’s ban on raw materials shows the importance of additional sourcing outside of China. Self-sufficiency must be a short-term goal for the U.S. government”
China’s dominance in key minerals has sparked concerns about which other metals could be subject to the next round of export restrictions. China could target bismuth and manganese, trader says.
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