Antimony in Demand - China's production down - has obvious U.S. implications
posted on
Jul 18, 2010 05:43PM
10-07-16 16:32 (UTC)
LONDON, July 16 (Reuters) - Many minor metals slipped over
the last week due to the summer slowdown, although toxic metal
antimony rose on persistent supply worries from top producer
China.
Minor metals demand is slowing in Europe as many factories
and consumers close for the summer holiday season, with business
due to pick up around late August.
Bucking the trend, antimony grade 99.65, used as a
fire-proofing ingredient, rose to about $8,725 a tonne from
$8,200 a tonne last week.
'Antimony has been rocketing up,' said one trader. 'Seems
that out of nine factories in Hunan province, eight had to close
for pollution problems.'
The silvery-white metal soared to a record high at $9,550 a
tonne in early May after an environmental and health and safety
crackdown in the Hunan province in top producer China.
But the volatile metal had eased back in recent months, with
mixed reports coming from China, which contributes around 90
percent of world output.
'Antimony offers are through the roof,' said another trader.
'I heard $9,500 (offers) from the Chinese this morning.'
Aluminium byproduct gallium, used in
optoelectronic devices such as light-emitting diodes (LEDs)
traded at its highest level since mid-January 2009 at about $500
a kg from around $475 a kg the week before.
'There is not much material available, one of the big
producers decided not to sell therefore all the chain became
extremely tight,' said one trader.