China's August antimony exports jump on supply concerns
BEIJING, Sept 20 (Reuters) -China's shipments of antimony products in August jumped from July as supply concerns fueled by Beijing's latest export limits on the critical mineral, used from fire retardants to weapons, propelled a flurry of rush stockpiling abroad.
China last month unveiled its plan to impose export limits on antimony and related elements from Sept 15, its latest move to restrict shipments of critical minerals in which it is the dominant supplier.
China accounted for 48% of global mined output of antimony, used in military applications such as ammunition, infrared missiles, nuclear weapons and night vision goggles, as well as batteries and photovoltaic equipment.
Beijing exported 4,075 metric tons of antimony related products, up by 12% from July when it posted a second straight monthly fall of 4%, customs data showed on Friday.
The United States is the top buyer, accounting for 29% of the monthly total, followed by Vietnam and Japan by 14% and 10%, respectively, the data showed.
"The number of inquiries, particularly for ingot, from Europe and the U.S. swelled after the announcement (of the export limit), all requiring shipment of cargoes before Sept. 15," said a Chinese antimony exporter, requesting anonymity as he is not authorised to speak to media.
The wave of buying further pushed up antimony prices that had already hit record highs on the back of growing demand and tight supply.
Price of antimony ingot jumped by nearly 20% from Aug. 15 to $25,250 a metric ton on Sept 18, data from information provider Shanghai Metals Market (SMM) showed.
The August shipment, however, was 31% lower from a year before.
From Sept 15, exporters will need to secure a license for dual-use items and technologies - those with potential military as well as civil applications, which typically takes two to three months to obtain the required license.
Shipments in September are expected to fall from August, analysts at the state-backed research house Antaike said in a note last week.
In the first eight months of this year, exports totaled 29,379 tons, a fall of 11% from a year before, customs data showed.
Reporting by Amy Lv in Beijing and Mai Nguyen in Hanoi; Editing by Michael Perry
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