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| Antimony Metal |
China Approves First Antimony Export License Since Restrictions
China has taken a strategic step by resuming antimony metal exports to Japan, signaling a potential shift in global metal trade. In January, the Chinese government approved the export of 20 tons of antimony metal to a long-established Japanese company, marking the first such license issued since Beijing implemented new dual-use restrictions in September. This decision highlights China's selective approach in trade relations, ensuring exports align with broader economic and geopolitical strategies.
Potential Expansion of Export Licenses to Global Companies
Currently, China has permitted only two firms to export antimony to Japan. However, market sources indicate that this could soon change. Leading global corporations, including LG and Samsung, along with plastic manufacturers in Japan, South Korea, and Taiwan, are likely candidates for future export licenses. If China expands its approvals, it could reshape supply chains and influence metal pricing in global markets.
Market Impacts and Price Dynamics
Following a temporary suspension, China reopened its antimony export channels on October 30. Despite a downturn in exports in the last quarter of 2024, recent growth in antimony trioxide shipments suggests a potential rebound. However, restrictions remain for key markets such as the U.S., sustaining a dual-tier pricing system where international prices significantly exceed domestic rates. The potential normalization of exports could reduce these price gaps and stabilize the global antimony market.
