China’s imports of antimony ore are projected to face challenges in the fourth quarter due to supply constraints, as reported by the state-backed research firm Antaike. While imports surged by 37.6% in the first seven months of the year, largely driven by increased production in Thailand, this trend is not expected to be sustainable. Thailand, which accounted for 31% of total imports, is not a major producer and is likely serving as a transit point.
In 2022, China accounted for 48% of the global mined output of antimony, a critical metal used in various military and industrial applications. However, tight supplies of antimony concentrate have led to reduced refining production and soaring prices, both domestically and internationally.
Increased overseas demand has emerged due to concerns about reduced supplies following China’s recent export limits on antimony and related elements. This has caused overseas prices to surpass domestic ones. Antaike noted that imports of antimony concentrate have generally declined over the past five years, despite a slight increase in 2023 and 2024, primarily due to output reductions in major supplier countries like Tajikistan, Russia, and Australia.
Moreover, sanctions against Russia have significantly impacted trade, with China’s imports from Russia dropping by 96% in the first seven months of this year. These structural changes highlight the uncertainties in China’s antimony ore trading, emphasizing the need for more diversified import channels to strengthen supply chain resilience.