In August, China experienced a significant increase in antimony exports, driven by supply concerns following the government’s announcement of export limits on this critical mineral. Antimony, essential for various applications including fire retardants, military uses, and batteries, saw shipments rise to 4,075 metric tons, marking a 12% increase from July.
The surge in exports is attributed to a rush in stockpiling by international buyers, particularly from the U.S., which accounts for 29% of China’s antimony exports. Following the announcement of export restrictions set to take effect on September 15, inquiries for antimony ingots surged from Europe and the U.S., prompting buyers to secure shipments before the new regulations are implemented.
Despite the month-on-month increase, August’s exports were still 31% lower compared to the same month last year. The price of antimony ingot also saw a substantial rise, jumping nearly 20% from mid-August to $25,250 per metric ton by September 18, driven by growing demand and tightening supply.
From September 15, exporters will be required to obtain licenses for dual-use items, which can have both military and civil applications, a process that typically takes two to three months. As a result, analysts anticipate a decline in shipments in September.
In the first eight months of 2024, total antimony exports reached 29,379 tons, reflecting an 11% decrease compared to the previous year.