Increased buying pushes silicon higher

London 06 November 2009 14:38

Silicon outside of China traded higher on Friday as buyers come to the market to cover for the rest of year with the expectation that prices will firm further.

The range rose to €1,680-1,730 per tonne ($2,496-2,571) from €1,650-1,700 per tonne previously on increased sales and bullish sentiment.

One trader reported selling around 500 tonnes of silicon metal this week and noted more consumer enquiries from the automotive sector.

"We sold 553 and 441 between €1,700 and €1,800 [per tonne fca]," the trader said.

"Business has picked up this week. I think it will be like this until December," he said, adding that the spot market would remain firm given the tightness in supply.

Both Chinese and Western prices are on the rise, a second trader told MB, confirming a sale of 50 tonnes of 441 material at €1,730 fob.

"There isn't too much material around. I could have done more but it's not easy to buy [replacement] material," he added.

A consumer from the automotive sector reported buying silicon this week at €1,700 per tonne, but did not provide further details of the purchase.

More enquiries have turned into business, a European producer source said, having completed transactions of 100-tonne lots at €1,740 fob for 553 metal and €1,775 for higher grades.

"It seems like things are on the move up," he said, also attributing the rise in prices to a tighter market.

There have been some aggressive offers in the market, a third trader noted.

"I haven't done any business this week but we have been offered at around €1,700," he confirmed.

Antimony ingot,Antimony Trioxide falls under pressure from lower offers

London 06 November 2009 12:44

Antimony prices fell for the first time since mid-September on Friday as some smelters lowered their offers to secure sales.

Trioxide-grade metal dipped to $6,250-6,450 per tonne from $6,275-6,475 per tonne previously, while standard grade II antimony fell to $6,200-6,400 per tonne from $6,250-6,450 per tonne.

Prices had been holding firm on tight supply from Chinese suppliers following an accident at Hsikwangshan Twinkling Star in October that resulted in the closure of its mines.

Producers raised their offers in the wake of the closure, but consumers' reluctance to buy metal above $6,000 has put pressure on spot prices this week, traders said.

"The market price is a bit softer – some of the smelters have reduced their offers in order to make some sales," one trader said, reporting business at the low end of the new MB quotes.

Hsikwangshan's production is still suspended, sources said, but they agreed that weak demand from end-users is offsetting the effect of the closure.

Both major antimony consumers in Europe, Sica and Campine, have not been active in the spot market for several weeks, market participants said.

Lower spot prices for antimony ore are adding to the weakness in the metal market, the trader said.

"The ore price has been coming down for a bit," he said.

While buying from Sica and Campine has been slack, consumers in Japan and Korea are buying steady volumes of metal, Asian sources said.

Chinese ferromolybdenum price falls 7% on weak buying interest

Shanghai 29 October 2009 02:41

Chinese molybdenum concentrate prices fell 150 yuan ($22) per tonne, extending weeks of declines caused by poor demand.

Prices dropped to 1,900-1,950 yuan ($278-286) per mtu, from 2,050-2,100 yuan per mtu last week.

"We haven't purchased any concentrate recently as prices dropped very quickly and we also have some inventory which will last until next month," said a ferro-molybdenum producer in Huludao, Liaoning province.

Domestic ferro-molybdenum prices also dropping rapidly these days as no buyers want to buy, the ferro-molybdenum producer added.

"Most stainless steel mills are unwilling to buy ferro-molybdenum because of poor sales for their own products. And the anti-dumping issue on Chinese stainless steel pipe is also making them hesitant to buy ferro-molybdenum," said a major ferro-molybdenum producer in Luoyang, Henan province.

Ferro-molybdenum is now trading at around 126,000-131,000 yuan per tonne, down as much as 6,000 yuan from last week, according to producers.

While demand is thin, supply is more than adequate, trader said.

"There is a lot of concentrate and ferro-molybdenum inventory in the market now, so some ferro-molybdenum producers have cut operating rates to reduce output," said a major molybdenum concentrater producer in Shanxi province. Many molybdenum miners are producing at loss now, he added.

Another ferro-molybdenum producer in Liaoning province told MB his company has cut production and is only supplying long-time customers in order to maintain relationships.

Market sentiment was also hit by lower European molybdic oxide prices, the Huludao producer said, adding that he has no intention of buying molybdic oxide for the time being. MB's prices for drummed molybdic oxide fell to $10.50-11.50 per lb on Wednesday.

China imported 5,067 tonnes molybdenum concentrate and molybdic oxide in September, down 17% month-on-month, taking nine-month imports totalled 51,350 tonnes, according to customs.

Most market players expect further price declines as there is no sign of buyers returning in any great number to make purchase in the near future.

"Concentrate prices may drop to 1,700-1,800 yuan or even to 1,500-1,600 yuan," the second Liaoning producer said.

"In the current market, I reckon that concentrate prices could drop to 1,700-1,800 yuan in the coming months," said the Luoyang producer.

U.S. molybdenum prices drift lower but bottom seen

NEW YORK 04 November 2009 16:29

U.S. molybdenum pricing remains volatile, but many in the trade believe that a floor has been established on the back of another market dip.

Spot prices for molybdic oxide are now in a range of $10.50 to $11 per pound, down from $12.30 to $12.70 two weeks ago, while ferromolybdenum is between $12.75 and $13 per pound, down from $13.90 to $14.10, traders said.

Moly prices have been on a roller coaster ride for the past six months. Molybdic oxide, which hit a low of $8.55 a pound in April, climbed to $18.25 in August but since then has given back about 40 percent.

"Have we fallen to the floor? Everybody is trying to figure that part out," a U.S.-based trader said. "The Chinese haven't shown too much interest in purchasing but they're not sellers either, so it's a little bit difficult to gauge what is going on."

A second trader said there's not really any spot activity to speak of as most buyers are safely covered for the fourth quarter. "But there is a growing sentiment that we've reached a bottom, but the problem is that we're entering a seasonably slow period," he said. "Things are going to be pretty sleepy here from Thanksgiving through the holidays."

Raw steel production in the United States fell last week for the first time since June, with the average capability utilization rate easing back to 62.7 percent from 63.2 percent a week earlier, according to the American Iron and Steel Institute, Washington.

"It feels like the demand for steel, looking at the utilization rates, is slacking off a small bit," the first trader said. "But that's not unexpected; we've been anticipating that November might be softer than October."

A third U.S.-based ferroalloy trader was significantly more bullish. "This ship is starting to turn around," the trader said, noting that he made a number of sales of moly oxide at $11.25 per pound. "The Chinese have come in and are buying, contrary to what other people are saying. There's a little more buying going around, just in general. Consumers are seeing a really cheap price and are being enticed to buy. I'm not seeing the lower numbers in the range anymore."

The first trader said that he hadn't seen any significant Chinese buying activity and their buying decisions would drive prices in the fourth quarter. "If the Chinese aren't buyers, then the market's going lower just based on the fundamentals and the fact that fourth-quarter (demand) is shaping up to be pretty soft. If they are buyers, depending on the extent, it could be a flat market."

However, he noted that prices won't actually go up until consumers return in bulk to the spot market. Currently, nearly all ferroalloy purchasing is being conducted through long-term contracts.

"The trade is getting a little bit ahead of this with the thought that it's bottoming. The feeling is that people are cautiously optimistic for what is going to happen in the first quarter," the trader said.

Chinese ferromolybdenum traders eager to replenish

BEIJING (Asian Metal) 2 Nov 09 – As Chinese ferromolybdenum prices have been dropping for more than three weeks and steel mills remain placing orders on a need-only basis, participant believe that ferromolybdenum price will not rebound sharply in the rest of this year. Traders appeared more interested in replenishing their stocks more or less currently.
Asianmetal(English) http://www.asianmetal.com 332H
A trader from Hebei told Asian Metal that he will keep a wait-and-see attitude towards the ferromolybdenum market and will not sell the materials in a hurry this week, because he feels that dealers are ready to come back to the market for replenishing.
Asianmetal(English) http://www.asianmetal.com 7A38
"I think most traders have been watching and waiting for lowest prices for a long time, and the current price level has been more and more closing their interested level," said the source. "Though the price of ferromolybdenum has been continuously dropping for several weeks, I believe it is able to increase one day."
Asianmetal(English) http://www.asianmetal.com QL7S
The source still has 10t of the material in hand but does not hurry to sell the material to get cash, reporting that another trader has about 100t of ferromolybdenum in hand, which were bought at around RMB80,000/t (USD19.52/kg Mo) long time ago.
Asianmetal(English) http://www.asianmetal.com 58EN
A source from Beijing, with a production capacity of 350tpm of ferromolybdenum, confirmed that traders have been eager to purchase ferromolybdenum since the middle of last week. "We sold more than ten tons of ferromolybdenum 60% to traders at around RMB127,000/t (USD30.99/kg Mo) last week, and I think more and more traders will come back to the market in the coming days," said the source.
Asianmetal(English) http://www.asianmetal.com LFPJ
Furthermore, the source stopped offering for ferromolybdenum and ferrovanadium last Friday, because they were not sure with the future market but expressed that ferromolybdenum market hasn't touched the bottom yet and the price may drop further this week.

European FeMo market set to stir again

BEIJING (Asian Metal) 2 Nov 09 – With around 100t of ferromolybdenum material concluded to Korea and Taiwan late last week, the market firmed as it was difficult, if not impossible to find offers below USD25.50/kg despite its seesaw trend earlier in the week.
Asianmetal(English) http://www.asianmetal.com A943
Responding to the backward-and-forward motion the market witnessed last week, a European dealer with enquiries worth 15t on the table Friday decided to wait until wait until the trend becomes clear, hopefully at opening of trading session this morning, but indicated he might not offer material at below USD26.00/kg Mo d.p. and would expect a firm bid at a few cents lower. "It should curve up this week having been on the low side for long," said the source.
Asianmetal(English) http://www.asianmetal.com JRQY
Another source offered 5t at USD26.50/kg Mo d.p. Friday with extended payment term but was still awaiting final bid as at the press time. The source defended his offer of extended payment term of forty-five days alluding to fear it could be that some traders are covering for short again and any stir in activity might be short-lived. "I would hope this is a real bottom-out," said the source. "We'd have to see."
Asianmetal(English) http://www.asianmetal.com 2B07
In the same vein, molyoxide price have firmed and according to participants, it was difficult to get offers at below USD10.70/lb. A European dealer who had earlier dismissed an offer at USD10.90/lb by bidding the material at USD10.75/lb was caught unawares as the supplier had withdrawn it by close of business Friday.
Asianmetal(English) http://www.asianmetal.com E446
Generally, however, an insider was of the view there have been more talks than action and it could still be possible to get firm bids at USD10.70/lb, especially from dealers who need cash to meet pressing commitments.

Cobalt, molybdenum seen on different paths as LME contracts near

Molybdenum and cobalt will soon emerge as the London Metal Exchange's first minor metal contracts, but that could stand as the only similarity shared by the two materials in upcoming years.

The global molybdenum and cobalt markets will face very different fundamental situations?and therefore, pricing environments?in the mid- to long term, according to analysts of the minor metals.

Molybdenum boasts the most favorable of the two outlooks, according to Catherine Virga, senior base metals analyst at CPM Group in New York.

Although molybdenum has faced its own set of challenges at the hands of the past year's global financial meltdown, specifically the weakening of the steel market, a number of persisting structural trends have helped keep the molybdenum market afloat, she said.

"With the steel market consuming roughly 70 percent of the molybdenum supply, it's really not much of a surprise that the molybdenum market is facing some of the cyclical problems that the steel market has been having in this downturn," Virga said this week at the LME's Minor Metal Breakfast Seminar in London.

Nonetheless, "there have been rather bullish structural trends for the past couple of years (for molybdenum). These structural trends have not been impeded by the recession and they continue to play out," she said pointing to recent and impending infrastructure builds throughout Organization for Economic Cooperation and Development (OECD) nations and the urbanization and industrialization of emerging economies.

"China's seeing a tremendous surge in demand for molybdenum and steel," Virga said, noting that some 120 million tonnes of steel are forecast to be consumed worldwide during the next two years due to the various fiscal stimulus packages.

The supply side of the molybdenum equation is also strong. China, once a net exporter of the minor metal, has become a net importer partially due to a number of "significant" mine closures, she said.

Published by samjiefu@gmail.com

Additionally, many of the new copper deposits slated to come on-stream in the near-future are located in Africa, where cobalt?not molybdenum?is the prime byproduct.

"We're not going to have the same amount of supplies coming from byproduct production," Virga said, noting than some 60 percent of total molybdenum output today comes from copper-molybdenum mineralizations. As a result, the molybdenum market, which could face "a very narrow surplus" this year and in 2010, will move back into deficit by 2011, she added.

With demand on the rise and supply on the decline, the molybdenum market is slated for the upside. According to CPM's estimates, molybdenum will average $11.70 per pound in 2009 and $17.50 in 2010. In today's environment, canned molybdic oxide is in the $13.75- to $14-per-pound range, after having grazed April lows of $8.30 per pound.

While the forecast for molybdenum is sunny, cobalt could still have some stormy days ahead, according to Eric Taarland, senior consultant at CRU International Ltd.

Cobalt, at one time a strong minor metal in terms of price, is facing weakening fundamentals going forward as a growing number of mining operations are brought on-stream throughout Africa, specifically the Democratic Republic of Congo. Freeport-McMoRan Copper & Gold Inc.'s majority-owned Tenke Fungurume project alone, which began production this year, is initially expected to produce some 18 million pounds of cobalt annually.

Published by samjiefu@gmail.com

"As more supply comes on-stream, we expect (pricing) deterioration," Taarland said at the LME breakfast.

Cobalt demand is also on the decline, he said. Although the minor metal, which is primarily used in superalloys and batteries, will see a brief uptick as electric cars evolve, other uses of the minor metal are quickly "maturing," he added.

"We do not expect growth to continue at these same levels as the last decade," Taarland said, noting that CRU estimates a 2009 average price of $20 per pound for low-grade (99.3-percent) cobalt and a long-term price of $10 per pound.

Low-grade cobalt is currently in the $14.5- to $15.6-per-pound range, up from first-quarter lows of $9 but a far cry from the nearly $50-per-pound level seen in March 2008.

Yet despite the expected market divergence between cobalt and molybdenum in future years, the LME expects both contracts to thrive on their new trading platform, Martin Abbott, LME's chief executive officer, said. "These are two markets that have been historically extremely volatile and extremely difficult to price," he said, noting that both are "perfect" for LME contracts.

The exchange's new molybdic oxide and cobalt futures contracts will start trading on Feb. 22.

Moly oxide prices will be higher next year, Molymet’s Graell

The average molybdic oxide price in 2010 will be higher than in 2009, John Graell, ceo of Chile's molybdenum converter Molymet, told MB.

"I wouldn't risk estimating a price, but the 2010 average will be higher than 2009's, although I don't think the difference will be greatly significant," Graell said, responding to the recent forecast of an average price of $17.50 per lb in 2010 by Catherine Virga, senior base metals analyst at CPM Group (MB Oct 14).

Meanwhile, Graell still expects an average of around $11 per lb for the whole of 2009, a figure he forecast in June (MB Jun 8).

At that time, prices were around $9.80-10.50 per lb and recovering from levels as low as $7.70-8.30 per lb in mid-April. But Graell had warned that "highs and lows" could still affect the market.

His words proved prescient, as prices rose to $18.30-18.70 per lb by mid-August before dropping again, trading at $13-13.50 per lb in the last two weeks.

"I think volatility will accentuate in the long term, and not only in the molybdenum market but in other metals markets and in the industry in general," he said, adding that companies will have to prepare for this new scenario.

Still higher prices in the second half are driving Molymet's utilisation rate upwards.

During the first half, the company worked at around 80% of its installed capacity of roughly 150 million lb per year and, in the second half, the level will reach 90% on average, Graell said.
Published by samjiefu@gmail.com

At the start of January, the company will start-up its new roaster furnace in Mejillones, Chile, which will be able to produce 33 million lb per year.

"By the end of the first quarter we already plan to reach full output there," he said.

Molymet also plans to build another furnace in Mejillones, which would take total capacity to 67 million lb per year.

The company recently submitted a request to Chile's environmental authorities to construct the furnace and is now waiting for the permits to continue its studies.

In China, the company has been granted environmental approval to build a molybdenum processing plant in Inner Mongolia, which could be commissioned by the end of 2012 and have a capacity of around 18 million lb per year.

The plant would represent Molymet's debut in the Chinese market.

"We are now finalising technical studies in order to take them to our board in the first half of next year," Graell said.

Antimony ingots,antimony trioxide prices soar in China on Hunan supply concerns

Shanghai 23 October 2009 08:30 Published by samjiefu@gmail.com

China's domestic antimony prices are being driven up by rumours that Hunan province will force antimony miners to consolidate in the wake of the Hsikwangshan Twinkling Star accident in early October.

Grade II antimony in the Chinese free market was quoted at 42,000-43,700 yuan ($6,151-6,400) per tonne this week.

"The prices are going up these days, and most of the offers have settled above 43,000 yuan per tonne," said an analyst at Minmetals in Beijing.

Hunan's provincial government may try to restructure antimony mining in the area by reducing the number of companies in operation from 80 to just six through mergers and shutdowns of smaller producers, sources said.

Twenty-six miners died earlier this month when their transport cage plunged down a mineshaft, an accident that once again highlighted dangerous conditions in China's mining sector.

The provincial government wants fewer and bigger companies to ensure mine safety can be monitored more effectively, source said. 

"Once the government meddles with the accident [investigations], the nearby smaller miners may be asked to shut down for safety reasons," said an analyst from a Securities Company in Shanghai.

Market participants did not know when Twinkling Star would resume production, and the company could not be contacted.

"Definitely, the accident will cause output losses for Twinkling Star, but what's worse, it will spread supply concerns all over Hunan province and the country as a whole," he added.

Hsikwangshan is a subsidiary of Hunan Nonferrous and is also the top antimony producer in the world.

Published by samjiefu@gmail.com

"We have no idea when the mine will resume operation in Hsikwangshan Twinkling Star, but it will for sure take some time," said a Chinese trader, adding that prices would likely rise further.
Published by samjiefu@gmail.com

"Antimony prices were already in line with other non-ferrous metals and the strong performance of gold, which began to surge even before October," she said.

Cobalt prices jump higher as enquiries turn into business

21 October 2009 12:53  Published by samjiefu@gmail.com

Cobalt prices moved up again on Wednesday as traders and producers were able to turn some of the new enquiries they are fielding into business.

Low-grade cobalt rose to change hands at $16-17 per lb from $15.40-16 last week, while high-grade climbed to $17-18.50 from $16.50-17.50.

"Volumes last week began going up," one trader, who sold Russian material at $16.80 per lb, said.

"There has been a 10-20% uplift in prices, initially inspired by traders on the back of speculative Chinese enquiries," he added.

But he preached caution. Despite having sold high-grade metal at $18.80 per lb on a delivered works basis in China, he said: "It's all going on in the $16-18 range, but at the top end it's all very quiet."

A second trading source said that the move up in prices last week caught some consumers out.

"It's a classic situation. There is pent-up demand from consumers, but they always miss the boat. They wait for the market to bottom, but by the time it has, it's too late," he said.

There are many hundreds of tonnes of enquiries for metal in the market to cover the end of this year and 2010, he said.

"The reality is there's not much metal out there and the chemicals and battery sectors are going well," he said, predicting that prices will trade in an $18-20 range in November.

A producer source agreed. "Batteries are doing pretty well in Japan and Korea," he said. "But it's all really a question of supply."

To illustrate the problems traders and consumers face in obtaining material, many pointed to Kasese's continuing absence from the market; the fact that Chambishi has not yet restarted; BHP Billiton's withdrawal from the spot market; and to reports from other market participants that Sherritt is sold out of spot material till December.

But one consumer source was sceptical about what is driving the higher prices.

"The market still seems to be moving up but, to my feeling, for the wrong reasons," he told MB. "Demand for end products remains significantly depressed."

The bearish factor of overall supply rising on higher production from sources such as Freeport McMoRan's Tenke Fungurume mine in the Democratic Republic of Congo is also being ignored.

Antimony ingots,antimony trioxide stable in tight global market

London 21 October 2009 14:49

Antimony prices were stable on Wednesday as European consumers and traders mostly stayed out of the tight market.

Trioxide-grade antimony is trading at $6,275-6,475 per tonne and standard-grade II antimony is trading at $6,250-6,450 per tonne.

Little business was reported on Wednesday, with traders and consumers both reluctant to accept Chinese offers as high as $6,700 per tonne.

"In Europe, the prices are too high and people don't want to buy anything. At these levels, I think they are boycotting the market," one Chinese trader said.

"I don't have any transactions to report, they are not accepting offers even above $6,400 – I think they will only accept $6,350 or below," he said.

The only businesses reported on Wednesday were for small tonnages booked at the top end of the MB ranges.

Prices have soared since the fatal accident and subsequent suspension of mining activity at Hsikwangshan Twinkling Star, the world's largest antimony producer, on October 8.

Mining at Twinkling Star will not restart for another three weeks at the earliest and mine shutdowns have been reported across Hunan province's deep level antimony mines, sources said on Wednesday.

"I don't think Twinkling Star will be open for another month or so," one European trader said, reporting sales at $6,450 for standard grade II metal.

Despite the rising Chinese offers and the tightening domestic market, European traders and consumers are not desperate for material.

End-users are anticipating lower demand for antimony trioxide as the winter in the northern hemisphere draws in, and traders are limiting their shipments into Europe because of the limited consumer interest, they said.

"The whole situation is stupid – the Chinese are trying to create panic and the prices are ridiculous – the season [for strong buying] is over," one consumer said.

"There's no real demand and I am not going to buy for a while," he told MB, noting that offers have fallen to $6,450 per tonne in Europe already from highs of $7,000 per tonne a week ago.

A second consumer also maintained that the price rise is "artificial", and driven by trader speculation in Europe and China.

European traders disagreed, saying that they are also struggling with the high prices from China.

"That right, it's all manipulated. I am actually buying at $5,700," joked one trader.

"I wish I could buy at $5,700," he added, reporting small sales at $6,500 per tonne.

Antimony ingots,antimony trioxide holds firm on tight supply

Antimony prices held firm on Friday as supply in Europe remained tight and Chinese suppliers maintained their high offers.

Trioxide-grade metal is trading at $6,275-6,475 per tonne and standard grade II metal is trading at $6,250-6,450 per tonne.

Prices surged in the first half of the week following a fatal accident and the subsequent suspension of all mining activity at Hsikwangshan Twinkling Star, the world's largest producer of the minor metal.

"Since the [MB] prices went up on Wednesday, I have had a lot of demand. I have had calls from Chinese people, from consumers, from European traders," one trader said. "The consumers have not stopped bidding me all week."

Business was reported in the second half of the week between $4,300 and $4,500 per tonne, with traders reporting tight supply in Rotterdam.

Offers out of China have been as high as $7,000 per tonne this week, although most material is offered at around $6,500 per tonne.

No material is expected to arrive in warehouses from China for another three to four weeks, market participants said, adding that they are expecting the mine suspension at Twinkling Star to continue for the next month at least.

"The mine will not be reopening for a month, and it could be three months before they reopen fully," the first trader said.

A second trader agreed that demand has been good this week, but forecast little upside in antimony from this week's levels.

"I have heard some ridiculous numbers this week above $6,500, but fundamentally I still see the trade as comfortable at the highs… Yesterday, there was very heavy trading, there was a lot of volume sold," the second trader said.

With demand from cable manufacturers set to decline as the northern hemisphere winter draws in, prices are unlikely to gain more ground, consumers and traders said.

"I don't see us getting much beyond the 2008 high," the second trader said.

Trioxide-grade antimony peaked at $6,850 per tonne in September last year, an all-time high for the metal. Prices then fell back to $4,200-4,400 per tonne by the end of 2008 as slowing industrial activity hampered demand.

Antimony trioxide prices continue to increase in the US

19 Oct 09 – Prices for antimony continue on the rise this week as participants report purchases completed last week in the USD5,700-USD5,800/t for antimony trioxide 99.5%min of Chinese origin. Participants anticipate that the price for antimony trioxide will reach the USD6,000/t mark by the end of the month as the effect of the Twinkling Star production stand-still for safety inspections begins to affect product availability.
Asianmetal(English) http://www.asianmetal.com FE4Q
A California-based trader, who moves about a container of antimony products a month, confirmed that the prices for antimony products are on the rise. The trader said that he purchased a container of antimony trioxide 99.5%min from a Chinese source late last week at USD5,800/t CIF California, for late November delivery. He stated that his previous purchase of a container of antimony trioxide 99.5%min was concluded at about USD5,200/t CIF California in early September.
Asianmetal(English) http://www.asianmetal.com 58P1
"The prices for antimony products have increased a lot since news of the mining accident two weeks ago. I expect prices to continue its upward trend well into November as the effects of the mine and smelter closures in Hunan begin to affect the availability of antimony products," said the source.
Asianmetal(English) http://www.asianmetal.com 55P5
A California-based consumer in the chemical industry, with a monthly consumption of one container of antimony trioxide a month, signed a contract for a container of antimony trioxide 99.5%min early last week at USD5,750/t CIF California also for November delivery. The buyer disclosed that the price for antimony has increased by about USD4,00/t since his last purchase was finalized in September. At this time, he does not expect the price to stabilize until the end of the year.

Magnesium ingot producers expect clear future

16 Oct 09 – The concluded price of magnesium ingot keeps comparatively stable. Producers, most of whom are running below their capacities, are fulfilling signed contracts without much material in stock. They expect the market to be clearer in the near future. Magnesium ingot price in Shaanxi and Shanxi still keeps on the level of RMB15,150-15,350/t (USD2,218-2,247/t) ex works and RMB15,400-15,600/t (USD2,254-2,284) ex works respectively.
Asianmetal(English) http://www.asianmetal.com XZ3G
A Shanxi-based producer, who is operating at one third of its capacity of 1,500tpm, revealed that they have concluded some small deals and still keep a stock of 300-400t of magnesium ingot in hand. "We do hope the price can go up, so that we won't have to sell magnesium ingot with little profit," said the source.
Asianmetal(English) http://www.asianmetal.com FRM7
The source reported to Asian Metal that consumers still have the intention of buying magnesium ingot, but the demand is not strong enough to push up the price. "Because of the comparatively low cost, the offers from Shaanxi-based smelters are generally RMB200-300/t less than those from Shanxi-based ones," added the source.
Asianmetal(English) http://www.asianmetal.com 108Q
A Ningxia-based producer, whose output is nearly 1,000tpm now, disclosed that they finalized some contracts at RMB15,600/t (USD2,284/t) ex works after the long holiday. "With no stock in hand, we raise our offer to RMB15,700/t (USD2,299/t) ex works, although the concluded price will be a little lower. I think the market will improve to some extent," the source said.
Asianmetal(English) http://www.asianmetal.com 042M
According to the source, some producers in Fugu also lift their offers of magnesium ingot to RMB15,400-15,500/t (USD2,254-2,269/t) ex works, and they do not accept prices below RMB15,200/t (USD2,225/t) ex works without acid treatment and package. "The magnesium ingot market seems to be a little better, but I am still not sure until now. We are looking forward to a clear trend as soon as possible," added the source.

Antimony ingots,Antimony Trioxide offers skyrocketing in China on mine accident

(2009-10-13)12 Oct 09 – The fatal mine accident in Lengshuijiang, Hunan province on 8 October has been stimulating local antimony producers to drive their offers up drastically over the past few days. For fear that the government would shut down all the smelters nearby for safety concerns, many producers either hold back from offering or start to quote as high as RMB43,000-44,000/t (USD6,296-6,442/t) ex works for antimony ingot and RMB39,000-40,000/t (USD5,710-5,857/t) ex works for antimony trioxide. In the meanwhile, consumers take a wait-and-see approach as most of them cannot adopt themselves to the surprisingly high increase in price.
Asianmetal(English) http://www.asianmetal.com 638V
A Hunan-based antimony ingot producer has ceased offering since last Friday. "We have to be cautious about selling our stocks because once we are required to halt production, the price is bound to rise further," said the source, revealing that as of the end of last week, the production in Lengshuijiang has not been affected by the accident, but most producers in the region are ready to close down to be inspected.
Asianmetal(English) http://www.asianmetal.com 90YJ
The source has some antimony concentrate in stock which is enough to produce around 100t of antimony ingot and also holds a stock of 30-40t of antimony ingot. The source revealed that their last deal was concluded at around RMB39,500/t (USD5,783/t) ex works before the National Day holiday for antimony ingot 99.65%min. "We heard that some producers have lifted their offer to RMB43,000-44,000/t (USD6,296-6,442/t) ex works and some quote as high as RMB45,000/t (USD6,589/t) ex works, but I don't think they have real intention of selling, and I'm sure consumers cannot accept such high prices for the time being," said the source.
Asianmetal(English) http://www.asianmetal.com WL3F
A Guangdong-based antimony trioxide producer also plans to not make offers until the market trend get clear. "We cannot get antimony ingot from our suppliers in Hunan, most of whom have suspended selling after the accident happened," said the source.
Asianmetal(English) http://www.asianmetal.com 787B
According to the source, the company is running normally at the moment with an output of around 200tpm for antimony trioxide. Its stock for antimony ingot can meet their demand for production for another four to six weeks.
Asianmetal(English) http://www.asianmetal.com R2E9
"Since we cannot guarantee the supply of raw material in next one or two months, we're only going to take selected orders from our long-term customers," said the source. Like many antimony ingot producers, the source does not know how to quote for antimony trioxide, either. He added that, "We're fulfilling some contracts signed at around RMB36,000/t (USD5,271/t) ex works in the second half of September, but now we have to quote RMB40,000/t (USD5,857/t) ex works if we receive inquiries."
Asianmetal(English) http://www.asianmetal.com AY2M
Sources believe that the antimony products market will keep stagnant in the following one or two weeks with offering prices soaring but few deals concluded. They do not think it easy for end users to accept prices of RMB43,000-44,000/t (USD6,296-6,442/t) ex works and RMB39,000-40,000/t (USD5,710-5,857/t) ex works respectively for antimony ingot and antimony trioxide. Some of them worry that the dramatic price increase may slow down the market demand, which will probably force producers to lower their prices again.

Chinese antimony suppliers cease offering

10 Oct 09 – Most Chinese producers and traders cease offering for antimony ingot after the mining accident took place in Lengshuijiang, Hunan province which claimed 26 dead and 5 injured. It is reported that the provincial government will start to shut down smelters and mines in the region to carry out overall inspections. Market sources anticipate a price jump in following few days or weeks.
Asianmetal(English) http://www.asianmetal.com J640
A Hunan-based antimony ingot producer who is still running with a monthly output of 70-80t has stopped offering since Friday. "We were informed that the local and provincial government would take an overall inspection on mining safety soon. If we are required to close down, we will have no material to be yielded, so we're unwilling to sell our product from stock," said the source with around 100t of antimony ingot in hand.
Asianmetal(English) http://www.asianmetal.com RK5O
The source reported that the local market has gone chaotic since the mining accident took place. Many smelters have suspended offering and some start to quote as high as RMB39,000-40,000/t (USD5,710-5,857/t) ex works VAT excluded for antimony ingot 99.65%min which was sold at only RMB36,000-36,500/t (USD5,271-5,344/t) ex works VAT excluded in late September. "It's meaningless for suppliers to send offers or for buyers to receive offers, because whatever suppliers quote, they don't want to sell at the moment," said the source.
Asianmetal(English) http://www.asianmetal.com 5U94
A Hunan-based antimony trioxide producer confirmed that most antimony ingot suppliers have ceased offering, and the antimony market situation gets tense. "It's rather difficult to buy antimony ingot from the local market. Most producers are holding back from selling for fear that they will be asked to halt production soon due to the recently happened accident," said the source.
Asianmetal(English) http://www.asianmetal.com N1J2
The source bought a batch of antimony ingot that is used for antimony trioxide production at RMB37,200/t (USD5,447/t) ex works VAT excluded during the National Day holiday but complained that some long-term suppliers refused to sell the material at prices below RMB38,500/t (USD5,637/t) ex works VAT excluded. Meanwhile, the source revealed that major smelters who concluded deals at RMB39,500-40,000/t (USD5,783-5,857/t) ex works before the long holiday also do not send offers, and some claimed that they would not sell the material at prices lower than RMB42,000/t (USD6,149/t) ex works.
Asianmetal(English) http://www.asianmetal.com KPT0
According to the source, not only sellers but also buyers are keeping a close eye on the market trend and also movement of the relevant government.

Hsikuangshan Twinkling Star accident to drive up antimony price

8 Oct 09 – On Thursday, a serious accident happened in a mine belong to Hsikuangshan Twinkling Star Co., the world largest antimony producer, with 26 miners confirmed dead. Market participants believe this accident would result in a great shortage in antimony supply and hence drive the antimony market price up in the remaing months of 2009.
Asianmetal(English) http://www.asianmetal.com 8QE0
On a basis of 26,000tpy capacity, in 2008, Hsikuangshan Twinkling Star produced 21,222t antimony trioxide, of which 13,669t was exported, with the rest of 29,971t sold domestically.
Asianmetal(English) http://www.asianmetal.com 2335
Hsikuangshan Twinkling Star also produces zinc and indium.
Asianmetal(English) http://www.asianmetal.com C7S4
Hunan is currently the largest antimony production province in China. In 2008, it got output of around 125,000t refined antimony, accounting for 70% of Chinese total of 177,000t.
Asianmetal(English) http://www.asianmetal.com 0DC2
Hunan provincial government has required local all antimony miners and smelters to shut down for safety checking.
Asianmetal(English) http://www.asianmetal.com Y550
According to Chinese practices, all local animony miners and smelters, possibly with other metals producers will stop for weeks to get through the safety checking period.
Asianmetal(English) http://www.asianmetal.com G2Q6
As a result, the market might see great shortage for antimony supply in the folllowing months, which will definitely push the antimony price up.

26 miners dead in Hsikwangshan Twinkling Star accident

8 Oct 09 – Twenty-six miners were confirmed dead as two lifters in a mine in central China's Hunan Province lost control, according to rescuers on Thursday.
Rescuers said that 19 miners were killed on the spot, and seven others failed emergency treatment.
There were 31 miners in the two lifters, which plunged because of brake failure at about 9:15 a.m.. Five workers were injured in the accident, said the rescuers.
The antimony mine in Lengshuijiang City is operated by Hsikwangshan Twinkling Star,the world largest antimony producer and the largest exporter of antimony products in China.
Chen Zhaoxiong, vice governor of the province, is at the scene overseeing the effort to deal with the aftermath of the accident.
Investigation into the cause of the accident is underway.
The provincial government has ordered an immediate check of workplace safety throughout the province.
In 2008, Hsikuangshan Twinkling Star produced 21,222t antimony trioxide, of which 13,669t was exported.
Hsikwaangshan Twinkling Star's production might be shut down for weeks for safety check. Local other antimony mines and smetlers will also follow such a checking procedure for two or three weeks.
Antimony market will see an obvious shortage in the following months.

Chinese antimony ingots,antimony trioxide price up facing the holiday in China

Antimony trioxide price goes upwards supported by higher price of antimony ingot, sources reported to Asian Metal. Some producers and traders raise offers of antimony trioxide 99.5%min to RMB36,500-37,000/t (USD5,344-5,417/t) ex works and USD5,300-5,400/t FOB respectively for domestic sales and exports.
A Hunan-based producer raise offer of antimony trioxide 99.5%min to RMB36,800/t (5,388/t) ex works this week from previous RMB36,500/t (USD5,344/t) ex works due to higher production cost caused by the price increase of antimony ingot. According to the source, the price of antimony ingot has seen another increase in recent one week. "The most recent offer we got from a local antimony ingot smelter is RMB38,000/t (USD5,564/t) ex works VAT excluded, nearly RMB1,500/t (USD220/t) higher than what we received ten days ago," said the source, adding that some antimony ingot smelters claimed that the lowest price they would like to accept is RMB37,500/t (USD5,490/t) ex works VAT excluded.
The source reported that antimony trioxide market is still slow. Many producers only sell the material to regular buyers and seldom do they receive orders from new orders. "End users have been resisting high price for antimony trioxide, but our production cost has been rising on higher antimony ingot price. As a result, we antimony trioxide producers are in dilema," said the source.
To avoid risks, the source only start to produce antimony trioxide when receiving orders. The smelter has produced about 100t of antimony trioxide so far in September, less than half of the production capacity.
A Hong Kong-based trader received an offer of USD5,300/t FOB Chinese main ports from a domestic supplier, up from USD5,200/t FOB China in the middle of September. "Suppliers told us that their production cost rises because antimony ingot price goes up further, and thus they lift the price of antimony trioxdie accordingly," said the source.
The source received a few offers from customers from South Asia and U.S., in past one week with a total quantity amounting to 150t, but most buyers are unwilling to accept the price increase. The source revealed that his lastEpurchase of two containers of antimony trioxide from Chinese suppliers3was concluded at USD5,050/t FOB China in lateJAugust.

Manganese Metals Flakes market quiet facing the holiday in China

Manganese market goes quiet in China with the participants staying away from the market due to the coming long holiday in early October. There are few offers or inquiries in the market.
A Changsha-based trader reported to Asian Metal that the current market has been quiet and they received very few inquiries recently from both domestic and overseas market. "As we know, most participants in China now are looking forward to the long holiday early next month and show little interest in any deals especially when demand is low and the price is not very attracting," said the source, whose last offer was USD2,150/t FOB for manganese briquette and USD2,600/t FOB for manganese flakes.
The source claimed they have one Indian buyer who usually stays in the market inquiring for one cargo of manganese briquette or flakes. "This is the only inquiry we have recently, but as the price is not workable, we are not ready to make deal," said the source, who would rather wait till till the middle of October when they return after the holiday。
Another Xiangxi-based smelter who has been away from the export market now told Asian Metal that the supply in China stays sufficient and this hinders the price from moving up. "There are offers low at around RMB13,500/t (USD1,977/t) ex works while some others insist on RMB14,000/t (USD2,050/t) ex works," said the source, who offers USD2,600-2,650/t FOB for manganese flakes, about the same price as last week.
The source expects the situation would improve a bit after the long holiday when they think the overseas buyers would have to increase some stocks for the coming months. However, they heard the supply in Rotterdam now is not so tight as early this month.

Magnesium ingot, Magnesium alloys market still unclear

The future of magnesium market remains unclear. As the eigh-day off is approaching, the market is slowing down with more participants leaving for holidays. Some smelters in Shanxi and Shaanxi have no spot material available, so they raise offers slightly by RMB100-200/t (USD15-29/t). However, most buyers do not react to the price adjustment positively and prefer to wait till the end of the holiday.
Asianmetal(English) http://www.asianmetal.com 31VM
A Shanxi-based consumer, who buys magnesium ingot regularly to produce magnesium alloy, confirmed that he purchased 200t of magnesium ingot at RMB15,600/t (USD2,284/t) ex works from a Shanxi-based producer on Monday. "I always buy magnesium ingot which is of high quality, so concluded prices might be a bit higher," the source explained.
Asianmetal(English) http://www.asianmetal.com 6WY0
The consumer, who produced over 400t of magnesium alloy in September, told Asian Metal that some magnesium ingot smelters have no stock in hand now, which may push up the price to some extent. "I think the price will rise after the National Day holiday, for I fail to purchase magnesium ingot at RMB15,600/t (USD2,284/t) ex works today," the source said on Tuesday, adding that some suppliers claimed that they would not sell magnesium ingot at prices below RMB15,800/t (USD2,313/t) ex works.
Asianmetal(English) http://www.asianmetal.com PHJ8
A Shaanxi-based producer, whose production capacity is 10,000tpy, claimed that they are still fulfilling the contract signed late last week at RMB15,300/t (USD2,240/t) ex works with package but no acid treatment. "I have learnt that the price is RMB15,100-15,200/t (USD2,210-2,225/t) ex works without acid treatment and package this week," the source added.
Asianmetal(English) http://www.asianmetal.com 567S
The source conveyed that it is hard to predict whether the future market will be stable or not because the long holiday is coming, but he believes the price won't be lower than RMB15,000/t (USD2,196/t) ex works.

Magnesium ingot offers in a wide range

Sources reported that the magnesium ingot market has seen more deals concluded over the past ten days with prices in a wide range. Some buyers claimed that they could obtain the material at RMB15,200/t (USD2,225/t) ex works from Shaanxi while some Shanxi-based producers still insist on offers of RMB15,700-15,800/t (USD2,299-2,313/t) ex works.
A Shaanxi-based producer currently offers RMB15,300/t (USD2,240/t) ex works for magnesium ingot but has no spot material to supply. All the output before the beginning ofGOctober has been booked at prices ranging RMB15,150-15,250/t (USD2,218-2,233/t) ex works without acid treatment and package.
According to the source, the magnesium ingot market has become more active since early last week. Many consumers and traders have thrown out orders. Although some smelters keep their offers stable and some even raise offers slightly by RMB50-100/t (USD7-15/t) to RMB15,400-15,500/t (USD2,255-2,269/t) ex works, for they receive more orders, a few smelters who are not so confident in the future market are willing to conclude deals at RMB15,200/t (USD2,225/t) ex works.
The source worries that if more smelters accumulate stocks during the long National Day holiday, the price may experience a slight decrease immediately after the holiday.
The smelter, with a production capacity of 10,000tpy, is running with a monthly output of around 400t.
A North China-based trader just ordered a batch of magnesium ingot at RMB15,200/t (USD2,225/t) ex works from Fugu, Shaanxi to fulfill the signed export contracts. The source confirmed to Asian Metal that magnesium ingot offers stay in a wide range of RMB15,200-15,800/t (USD2,225-2,313/t) ex works. Currently some major Shanxi-based producers still put their offers at RMB15,700-15,800/t (USD2,299-2,313/t) ex works.
"We believe that those who offer RMB15,700-15,800/t (USD2,299-2,313/t) ex works cannot conclude deals at such a high level while others in the region are willing to sell at RMB15,500-15,600/t ex works and those in Shaanxi can accept RMB15,200-15,300/t (USD2,225-2,240/t) ex works," said the source, revealing that the reason that some smelters send high offer is that they have booked out the output in the following few days without spot material in hand.
The source also worries that the magnesium ingot price may retreat slightly in early October as many consumers and dealers have replenished stocks over the past ten days and plan to make some purchases before the long holiday. The source has bought more than 200t of the material in recent one week.

Manganese flakes market to recover next month in Japan

Manganese market remains quiet in Japan but more demand is expected to come from next month as the economy starts to improve. There are some inquiries from Japan but still only few deals are made.
A Japanese trader reported to Asian Metal that they have no inquiry received from local customers yet. "Demand is expected to increase but till the present, the market is still inactive," said the source, who received some offers of about USD2,700-2,750/t CIF Japan early the month.
Currently, manganese price in China drops greatly and some suppliers are ready to sell at around USD2,600/t FOB, which the source believes will hinder the buyers from returning in the near term as the price is on the downturn. The buyer expected to return to the market for some orders after October. The source purchases about 500-1,000tpm of manganese flakes.
Another Japanese trader who also stays watching the market told Asian Metal that they heard a deal of about 200 tons made early this month at about USD2,680/t FOB. The source expects the market to improve gradually in Japan, which they believe will help push manganese market ahead. "But we need to be patient, for it takes time for the demand to rebound and meanwhile the market in China seems unstable with price dropping day by day," said the source.
The source received some offers in the range of USD2,620-2,650/t FOB Chinese main ports and it seems that many Chinese smelters have some stocks at hand, so there is no need to be in a hurry to place an order.

Some antimony producers raise offers slightly

Although export market for antimony ingot and antimony trioxide remains flat, domestic antimony products market witnesses more activities during the week.
Antimony ingot prices rise moderately prompted by a little more buying. Producers who put their offer at RMB38,500-39,000/t (USD5,637-5,710/t) ex works for antimony ingot 99.65%min in Hunan in the previous week raise offers by around RMB500/t (USD73/t) to RMB39,000-39,500/t (USD5,710-5,783/t) ex works with some claiming deals at RMB38,800-39,200/t (USD5,564-5,739/t) ex works. Although most producers do not think the price will jump up steeply, they are confident in seeing the price reaching RMB40,000/t (USD5,857/t) ex works soon stimulated by still tight supply of raw material coupled with increasing demand.
After the lead poisoning incident happened in Yiyang, Hunan province, relevant bureau has started overall environmental checkups on local smelting enterprises. Some producers for antimony oxide and antimony metal with high content of lead and arcenic were required to shut down, leaving producers more concerned about the raw material supply. Additionally, as China is welcoming its 60th anniversery of founding, Beijing is on the highest state of security alert and thus the government is paying more attention to controlling explosives. Therefore, some antimony mines are running with small output for lack of dynamite. The supply of antimony raw material keeps tight in general.
Antimony trioxide market goes stable in the week after the price increased by a small margin early this month. Some smelters are still fulfilling contracts signed at RMB34,500-35,000/t (USD5,051-5,124/t) ex works for antimony trioxide 99.5%min while for new orders with shipment in late September or October, producers quote RMB35,500-36,000/t (USD5,198-5,271/t) ex works for bulk deals. Some Hunan-based producers also reportedly concluded deals at RMB36,500/t (USD5,344/t) d.d.p. with RMB200-300/t (USD29-44/t) for transport cost.
European buyers reported that antimony ingot offers they got were USD50-100/t higher than USD5,600-5,6,50/t CIF Rotterdam. Some Asian buyers also received offers at USD5,650-5,700/t FOB China for antimony ingot 99.65%min. Buyers reported that demand in international market is expected to warm up a little in the fourth quarter but not many postive signs have been seen so far in September, so the price increase is mainly a result of the move inside China. Meanwhile, offers for antimony trioxide 99.5%min stay stable at USD5,100-5,300/t FOB China, and producers and traders reported limited concluded deals.

Antimony Ingots,Antimony trioxide offers slightly rise amid thin trading

Despite thin trading in the market, some producers and traders slightly raise offers for antimony trioxide due to the environmental crackdown. However, they do not think the price will see a great increase given the fact that demand for the material remains slack.
A Hunan-based producer, who is operating with a monthly output of around 450t, currently quotes RMB35,800/t (USD5,242/t) ex works for antimony trioxide 99.8%min, RMB200-300/t (USD29-44/t) higher than offers at the beginning of September. "All the smelting enterprises, including many crude antimony oxide producers, in the industrial park in Yiyang were shut down for pollution, so consumers who usually purchase material there will have to turn to other suppliers," said the source. "We received a little more inquiries recently, so we decided to raise offers slightly." The source also worries that the supply of antimony ore and antimony ingot will further tighten if government takes more stringent measures to regulate mining and smelting.
Meanwhile, the source acknowledged that demand for antimony trioxide both domestically and overseas keeps weak on the whole. Therefore, the price for the material is unlikely to rise by a large scale in a short time. The source predicts that the market will start to turn better from late September and more activities will be seen in October.
"One of our suppliers in Hunan who agreed to sell us antimony trioxide 99.8%min at RMB34,500/t (USD5,051/t) ex works with cash payment raised offers to RMB35,000/t (USD5,124/t) ex works," said a trader based in Central China. "The supplier told us that antimony concentrate supply gets tighter and the price rises again. Since their production cost might increase on higher raw material price, they decide to raise offers."
The source reported that he received more inquiries from end users in the local market, indicating better demand. Therefore, he plans to purchase some antimony trioxide this week in order to cash in on higher price. However, the source does not think the antimony trioxide price will rise because buyers may shy away from the market again on higher-than-expected price as they did in last two months.
The source usually sells 40-50t of antimony trioxide in the spot market. The most recent deal of 5 tons was concluded at around RMB36,000/t (USD5,271/t) d.d.p. at the beginning of this week.

Cobalt powder market keeps weak with price falling

Sources told Asian Metal that the cobalt powder market keeps quiet with the price continuing to drop to RMB370-375/kg (USD54.17-54.90/kg) from RMB370-380/kg (USD54.17-55.64/kg)last week. Most consumers are still watching the market, which will probably press down the price of cobalt powder further.
A producer in Guangdong, with an output of about 10tpm of cobalt powder, told Asian Metal that they have to reduce the price of cobalt powder from around RMB380/kg (USD55.64/kg) to RMB370/kg (USD54.17/kg) because consumers show no interest in buying. "In order to make some deals, we even sell at the price of RMB365/kg (USD53.44/kg)," said the source. "Every August is the off-season time, but it was worse this August. Our sales volume reduced by about half this August compared with the normal level." They have just sold about six tons this August, less than 10t of last month.
The source also revealed that consumers buy in smaller quantity. "Usually, our clients purchase one ton at a time, but they buy 500kg at a time now, even less than that. They are still watching the market," said the source.
Another producer in Jiangsu, with an output of about 15tpm of cobalt powder, confirmed to Asian Metal that the price keeps on declining. They can only make deals at around RMB370-375/kg (USD54.17-54.90/kg) in small lots.
Demand from cemented carbide is still weak. Meanwhile, demand from diamond tools also descends. On the other hand, most consumers are reluctant to buy. For one thing, they still hold enough stock at hand. For another thing, they are waiting for the price to drop further.

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Ferromolybdenum,Ferro Molybdenum price keeps dropping

Chinese suppliers have reduced their prices of ferromolybdenum 60% from around RMB185,000/t(USD45.14/kg Mo) to RMB150,000-160,00/t (USD36.60-39.04/kg Mo) since the middle of August.Though the price is still dropping, some suppliers still have some deals done currently.
A smelter in Jiangsu,with a production capacity of 500tpm for ferromolybdenum,offers RMB155,000/t(USD37.82/kg Mo) ex work for ferromolybdenum 60% currently,confirming that they made a deal of 600t of ferromolybdenum 60% at aroud RMB155,000/t(USD37.82/kg Mo) on Wednsday.
"We have some long-term customers, and our output of ferromolybdenum 60% keeps at about 300tpm in recent months," said the source."I think ferromolybdenum price may drops further this week, but it may tends to be stable early September."
A smelter in Liaoning, with a producton capacity of 100tpm for ferromolybdenum,offers about RMB156,000/t (USD37.82/kg Mo) for ferromolybdenum 60%."We have already made a deal of ferromolybdenum 60% in recent days, and will be delivered this week," said the source.
The source has some long-term consumers, so they don't have a big trouble in selling."I think the demand will resume in September, because steel mills usually purchase the materials in this month,"said the source

Ferrovanadium,Ferro Vanadium sees lower prices

According to European dealers, price of ferrovanadium decreased in the last several days as there are some profit-taking in current market. However, most dealers are still confident that the price will continue the upward trend next week after more consumers come to market.
A European trader told Asian Metal that he sold a small batch of 80%min ferrovanadium in the middle of the week at USD34.80/kg V d.d.p. to a consumer. "Market is still dull and we are seeing lower offers from few people," said the trader, and he thinks he can get 80%min ferrovanadium at around USD34.50/kg V d.p. in warehouse Rotterdam from other traders.
"Most dealers are still optimistic that the price will turn around in the beginning of September," said the trader, adding that he is one of them. He learnt that the production of steel mills are going to improve, but there also will be many problems when the manufacturers start running their business. The source disclosed that he has a lot of contracts to deliver this week for the consumers' production next week. "But we need more demand to push the market in the positive direction."
Another European trader confirmed the decreasing ferrovanadium price in Europe, and he has not concluded any deal of ferrovanadium in the last few days as he does not want to sell the material he has on hand at cheap prices. "I have just a few ton in stock, and I do not need cash that urgent," he said. The trader confirmed the price in the range of USD34.00-36.00/kg V in warehouse Rotterdam, but holds that there is almost no deal concluded at above USD35.00/kg V this week due to the weak demand.
"We are seeing a few consumers, but the asked volume is far less than we expected," the trader remarked. He still expects the price will go up after the profit taking in European market. "This is no point to panic," and he sees supply is still tight as no one holds large volume of stock in Europe.

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MATERIAL	H.C. FERRO MANGANESE.
SPECIFICATION	Mn-75% Min, Si-1.5% Max, C-8% Max, S-0.04% Max, P-0.35% Max.
SIZE	10-100 MM (+/- 10%)
PACKING	BIG BAGS
QUANTITY	120 (+/- 10%)MT
ORIGIN	INDIA

PRICEÂ	USC 1230/MT
DELIVERY TERMS	CIF Rotterdam
SHIPMENT	PROMPT FROM MAJOR INDIAN MAIN PORTS IN THE MONTH OF SEPTEMBER.
DUTIES & TAXES	UNPAID
VALIDITY	SUBJECT TO RECONFRIMATION UNSOLD
PAYMENT	THROUGH IRREVOCABLE L/C PAYABLE AT SIGHT.

We trust you shall find our offer of competitive interest and shall look forward for your valuable order at an earliest.
Await your prompt response by return mail.

Price and availability subject to confirmation. This price quoted supersedes all previous prices.
CNF prices also available, please email us for further details:samjiefu@gmail.com

Sell High Carbon Ferro Manganese

We can supply the best quality H.C.femn to you. Our price is competitive and we take responsibility to any quality uncertainty.

please find the offer as below.

MATERIAL	H.C. FERRO MANGANESE.
SPECIFICATION	Mn-75% Min, Si-1.5% Max, C-8% Max, S-0.04% Max, P-0.35% Max.
SIZE	10-100 MM (+/- 10%)
PACKING	BIG BAGS
QUANTITY	200 (+/- 5%)MT
ORIGIN	INDIA

PRICEÂ	USC 1280/MT
DELIVERY TERMS	CIFRotterdam.
SHIPMENT	PROMPT FROM MAJOR INDIAN MAIN PORTS IN THE MONTH OF SEPTEMBER.
DUTIES & TAXES	UNPAID
VALIDITY	SUBJECT TO RECONFRIMATION UNSOLD
PAYMENT	THROUGH IRREVOCABLE L/C PAYABLE AT SIGHT.

We trust you shall find our offer of competitive interest and shall look forward for your valuable order at an earliest.

Await your prompt response by return mail.

Date Posted:29th,August,2009

China Henan shuts up to 240,000 T lead capacity

China's Henan, the top refined lead producing province in the country, has shut down up to 240,000 tonne of annual lead smelting capacity in recent days after lead poisoning was reported to have affected hundreds of children in Shaanxi province, smelter officials said on Monday.

"Three plants were shut on Sunday, with a monthly output 15,000-20,000 tonnes," a senior executive at a large lead smelter in Henan told Reuters. He added the closed capacity was in Jiyuan city.
A sales manager at a medium-size lead smelter in Henan said the provincial government had asked lead smelters to shut down capacity that did not meet national environmental standards in China, the world's top lead producer.
"About a third of the province's lead smelting capacity could be closed eventually," he said.
Henan has more than 1 million tonnes of lead smelting capacity and less than half have reached that standards, the manager estimated.
"There are increasing voices asking for closure," a trade manager at a major lead smelter in Henan said.
He added the provincial government had not issued an official document to force smelter closing such capacity but given verbal requests.
Henan produced a third of China's refined lead at 600,996 tonnes in the first half, up 9.13 percent, according to the China Nonferrous Metals Industry Association.
China's fourth-biggest zinc producer Dongling Group is maintaining full production at two zinc lines with combined annual capacity of 150,000 tonnes in Shaanxi province, after shutting a 100,000-tonne lead and zinc plant blamed by locals for being a source of lead poisoning.

Antimony trioxide,Antimony ingot,antimony metals market summary Aug 17-21

BEIJING (Asian Metal) 24 Aug 09 - Weak demand dominates antimony ingot and antimony trioxide market in the week. Producers try to attract more buyers by cutting down offers, but most end users and traders still hold watch-and-wait attitudes.

Major antimony ingot producers reduce offers to RMB40,500/t (USD5,930/t) ex works from previous RMB41,000/t (USD6,003/t) ex works to attract buyers, but demand continues to be low. Some consumers reported to have purchased antimony ingot at RMB39,200-39,300/t (USD5,739-5,754/t) ex works for the production of antimony trioxide. Meanwhile, some small smelters also lower offers to RMB35,500/t ex works VAT excluded owing to weak demand, but they do not intend to decrease the price further because antimony concentrate price lingers at high levels. Some producers reported that the price of antimony concentrate 20-30%min stands at RMB25,000-26,000 (USD3,660-3,807/t) per metal tons ex works and some suppliers offer as high as RMB30,000 (USD4,392/t) per metal tons ex works for antimony concentrate 50%min. For fear that the antimony price may drop, antimony ingot producers are cautious about purchasing raw material.

Antimony trioxide market also keeps dull and the price has seen a decrease over the week affected by sluggish demand. Some producers who offered RMB36,000/t (USD5,271/t) ex works or higher prices in the previous week lower offers to RMB35,300-35,500/t (USD5,168-5,198/t) ex works and some reportedly concluded deals at around RMB35,000/t ex works.

The export market for antimony ingot remains stagnant with foreign buyers absent for holidays. As Chinese domestic price for the material declines slightly, participants expect the export price to go down accordingly. Some suppliers no longer make offers because there are few buyers in the market. However, major exporters claimed they would not accept prices lower than USD6,300/t FOB Chinese main ports.

Due to the price decrease of antimony trioxide domestically, some suppliers start to make lower offers for the material to foreign buyers. Some of them cut down offers to USD5,200-5,300/t FOB China from previous USD5,300-5,400/t FOB Chinese main ports, but few deals are being closed in the market.

Electrolytic Manganese Metal Flakes

We are able to offer the following Electrolytic Manganese Metal Flakes price from China

Origin: China

Electrolytic Manganese Metal Flakes
- Specification:Mn:99.7%min, S:0.05%max, P:0.005%max, C:0.04%max.Fe+Se+Si : 0,205%max,Size : Flakes
- Original: P. R. of China
- Packing: Packed in 50kgs or 100kgs Iron Drum
- Price:  CIF ROTTERDAM 2700usd/mt.
- Payment Term: 20% T/T advance + the balance 80% T/T against copy of B/L.
- Delivery time: Within 30 days after seller receiving the advance payment.
- Min. Order: 24 tons per FCL.
- Validity: 22 August, 2009.

Price and availability subject to confirmation. This price quoted supersedes all previous prices.
CNF prices also available, please email us for further details:

Lead Poisoning Spurs Relocation from Northwest China Smelting Plant

BEIJING, Aug. 14 -- Authorities in northwest China have begun work on a scheme to relocate at least 1,000 people living near a smelting plant suspected of discharging waste that caused lead poisoning in more than 600 children.

The government of Fengxiang County, in Shaanxi Province, began building new homes Thursday for 425 families living within a radius of 500 meters of Dongling Lead and Zinc Smelting Co. in Changqing town.

The residents were expected to move to the new community, about a kilometer from their current homes, within two years, said He Hongnian, deputy county head. He didn't say how much the construction would cost.

Pu Yiming, chief of Changqing town, said the cost would largely be shared by the county government and local businesses.

"I'm ready to move, the earlier the better, as long as the new place has water, electricity and easier access to transport," said Lu Tao, who lives 100 meters from the smelting plant.

Under the relocation plan, initiated before the plant was opened in 2006, the residents should have moved already. Officials with the county government said the delay was caused by "readjustments in the overall planning of the Changqing industrial park."The delay, however, may have endangered the health of residents since 6-year-old Miao Fan was diagnosed with gastritis resulting from lead ingestion in late July.

Miao's case sparked widespread fear among residents, who rushed their children to hospital for blood tests.

In government-funded tests by industrial illness specialists in Xi'an Central Hospital this week, 615 children -- about 85 percent of all the 731 children aged under 14 that were tested -- had excessive lead levels in their blood.

Of them, 166 children were admitted to hospital as their blood-lead levels exceeded 250 milligram per liter, compared with the normal level of zero to 100 mg per liter. In the worst three cases, levels exceeded 450 mg per liter.

The county government has promised to cover all their medical expenses. For other children being treated at home, the government would provide milk, dried vegetables and nuts, which are believed to help expel excessive lead from the body, said official He Hongnian.

The smelting plant belongs to Dongling Group, one of the biggest private companies in Shaanxi Province. The plant in Changqing town began operating in 2006, producing lead, zinc and coke. It directly accounted for 17 percent of the county's GDP last year.