Minor metals prices were uniformly down last week. Bismuth, which rallied to a high of $9.35 per lb in early April fell to $8.80-8.90 per lb and is likely to fall further, given the level of demand. Spot antimony sales were reported in the high $4.70s per lb as opposed to the low $4.80s the previous week. Chinese antimony suppliers have hiked their prices. “Replacement antimony costs are much higher than current market prices, but customers are resistant,” trader said.

 

The Chinese government is reported to be building up its antimony stockpile. In addition, the local government in Hunan province is clamping down on businesses that have avoided paying the value added tax. This has put an end to the slide in prices, sources said. Export prices are $11,200-11,700 per mt, f.ob.

 

China legally exported 784 mt of antimony metal in the first quarter of this year vs. 581 mt in the same months of 2012. Exports were mainly 290 mt (98 mt in the first quarter of 2012) to Rotterdam; 201 mt (277 mt) to the US and 40 mt (20 mt) to Japan.

 

Selenium prices fell to $38-40 per lb compared to $42-43. Western traders said they were pleased to make large tonnage sales at $38 in the wake of Chinese manganese producers indicating that they had no intention of paying anywhere near that price level. Many of China’s manganese producers have shut down. Those operating know it is a buyers’ market and are using all the clout that they have to push prices down.

 

Chinese indium prices eased further to 3,630-3,700 yuan per kg, VAT included. A producer in Hunan province sold 1 mt of indium at 3,650 yuan per kg, while a trader in Shanghai sold 500 kg at 3,660 yuan per kg. China exported 512 kg of indium in March compared to zero exports in January and February.