Chinese supply squeeze to keep antimony prices high

Significance

China, the dominant producer, has seen output fall by 80% since 2016 while domestic demand has risen, resulting in a sharp fall in exports. This has curbed the ability of foreign buyers to stockpile and has this year pushed prices to record highs.

Impacts

• US prices for the material purchased in Rotterdam are expected to continue to rise above the price for delivery out of Shanghai.
• Chinese antimony producers’ share prices, including Guangxi Huaxi Nonferrous and Hunan Gold, are being little affected by the export ban.
• Canada-listed Mawson Gold made a significant new gold-antimony mining discovery in Australia this month, boosting its share price.
• Nasdaq-listed Perpetua Resources saw its stock jump 17.4% after the firm won US Forest Service approval for its Idaho gold-antimony mine.