In June 2026, the overall market situation of domestic antimony ingots continued to weaken, with the price center continuously shifting downwards. The trading atmosphere in the market was quiet, and both domestic and foreign markets were running weakly. The industry as a whole was in a downward trend during the off-season, and there was a clear game of long and short in the market. According to the monitoring of the commodity market analysis system of Shengyi Society, the domestic 1 # antimony ingot market continued to decline in June 2026, with an average market price of 149500 yuan/ton at the beginning of the month and 123500 yuan/ton at the end of the month, a cumulative decline of 17.39% throughout the month.
| Gamma-PGA (gamma polyglutamic acid) |
Supply side:
Strict total quantity control policies are implemented in domestic antimony mining, and environmental security checks are carried out on a regular basis. Local mining is restricted, and the release of primary antimony production capacity is limited, resulting in a long-term overall tight supply of antimony resources in China. However, there has been a significant change in the overseas raw material circulation pattern this month, with Thailand’s export volume of antimony raw materials to China sharply decreasing, and the previously high export volume falling sharply. The impact of the reduction in raw material supply is gradually lagging behind, but the country’s import volume of raw materials from Myanmar has not significantly declined, and the short-term raw material supply gap has not yet been fully reflected. At the same time, there has been a continuous increase in the inflow of antimony raw materials from Africa, which to some extent offsets the impact of tightening overseas supply. The overall supply of raw materials by domestic smelting enterprises is still acceptable, production has remained stable, and the market spot circulation supply is sufficient. Coupled with the market price continuously approaching the production cost line, the low-priced circulation of goods in the market has increased, highlighting the overall loose supply situation.
Demand side:
Flame retardant materials account for about 55% of the traditional downstream demand for antimony, while glass accounts for about 15%. Antimony is an essential element in photovoltaic glass production and cannot be replaced. With the continuous development of China’s photovoltaic industry, the main increment of antimony metal in the future will be in the photovoltaic field. June is the off-season for traditional consumption of antimony products, and the overall market consumption atmosphere is sluggish, with weak overall support for demand
Antimony oxide: The downstream market performance of traditional antimony oxide is weak, and the overall production of the flame retardant industry is insufficient. The price of bromine based flame retardants is low, and the industry orders are relatively few. The purchasing enthusiasm of end manufacturers is sluggish, and most of them purchase in small quantities according to demand. The overall stocking willingness is weak, and market transactions are very flat.
Photovoltaics: The photovoltaic field is an emerging demand growth point for antimony ingots, mainly used for photovoltaic glass production. In June, the demand in the photovoltaic field weakened synchronously, and the production pace of photovoltaic glass enterprises slowed down. The daily melting volume continued to decrease, and the overall pressure of the industry to reduce inventory was too high. Enterprises strictly controlled the amount of raw material procurement, and the purchasing intensity of antimony related raw materials continued to decline.
Market forecast:
In the short term, the off-season pattern of the industry has not yet ended, and the pace of downstream demand recovery is slow. Coupled with a strong wait-and-see sentiment in the market, the price of antimony ingots still lacks strong upward momentum, and the market is likely to continue a weak and volatile trend at a low level. There is still room for slight downward price exploration. As the off-season gradually comes to an end, the operating rates of major downstream industries are expected to steadily rebound, and traditional consumer demand will gradually be released, driving the concentrated release of market demand procurement. In terms of supply, the lagging impact of overseas raw material reduction will gradually become prominent, and the later tightening of raw material sources will provide substantial support to the market. Overall, the antimony market is unlikely to change its weak pattern in the short term, with a focus on bottoming out and consolidation. When the demand side recovers substantially and overseas supply tightens, the antimony ingot market is expected to gradually stop falling and stabilize from late June to the third quarter, ushering in a trend of stabilization and recovery.
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