Price Trend

This week (9.02-9.06) domestic 1 # antimony ingot prices fell, the domestic market at the beginning of the week average price at 37500 yuan / ton, weekend average price at 37750 yuan / ton, up 0.67%.

On September 6, the Sb Commodity Index was 52.55, up 0.35 points from yesterday, down 48.64% from its peak of 102.32 points in the cycle (2012-10-16), and up 11.86% from its lowest of 46.98 points on December 24, 2015. (Note: Period refers to 2012-09-08 to date).

II. Market Analysis

Upstream and downstream: This Wednesday, antimony oxide followed the trend of antimony ingots to stop falling and stabilize. This week, prices are stable and transactions are limited. As of Friday, the average price of antimony trioxide was 99.5% at 3250 yuan/ton and 99.8% at 33750 yuan/ton.

Domestic market: Antimony ingot prices stopped falling and stabilized this week, up about 250 yuan/ton from last week, mainly boosted by the success of Minmetals bidding and the gradual end of the off-season, but the market as a whole is mainly de-inventory, although prices have slightly boosted, but it still depends on whether the downstream follow-up, if the lack of downstream support, prices later. It’s still hard to be strong. As of Friday, the average price of 2 # low bismuth antimony ingots was 36,000 yuan/ton, 1 # antimony ingots 36500 yuan/ton, 0 # antimony ingots 37500 yuan/ton, and 2 # high bismuth antimony ingots was 35,000 yuan/ton.

Non-ferrous Industries: This week, the Premier of the State Council chaired a national regular meeting, demanding timely use of policy tools such as general and directional reduction to increase support for the real economy; China and the United States agreed to hold the thirteenth round of high-level Sino-US economic and trade consultation in Washington in early October, and the resumption of Sino-US negotiations had a pessimistic macro-sentiment towards the earlier stage. The final value of PMI in U.S. manufacturing industry returned to the 50-integer level in August and was better than expected, but it was still the lowest level since September 2009. In August, ADP employment and ISM non-manufacturing PMI in the United States were higher than expected, and the overall data was warmer. In August, the manufacturing PMI of the euro zone and France were higher than expected, while the Italian manufacturing PMI was below the 50-year-old level for 11 consecutive months. Overall, this week’s macro news is optimistic, the overall mood has warmed up, the dollar index has fallen high, and the basic metals have rebounded sharply.

3. Prospects for the Future Market

Next week, the market may usher in more long-term confidence in entering the market, and next week, due to the Mid-Autumn Festival holiday, there are only four trading days, basic metals will be easy to rise and difficult to fall, showing a common strong feature.