Affected by the export ban on antimony products recently implemented by the Chinese government, Chinese customs data shows that in October 2024, the export volume of antimony products plummeted by a staggering 97% compared with September, dropping from 6,533 tons to only 190 tons. This decline is not only far more than the 4,034 tons in the same period last year but also marks that the total export volume of antimony products in China in the first ten months of this year reached 36,103 tons, a year - on - year decrease of 17.2%. This data highlights the profound impact of export control policies on Chinas antimony industry and the global market.

According to Reuters, due to market concerns that Beijing was about to further strengthen export restrictions, an inventory - building spree swept through overseas markets during August and September, leading to a surge in exports during that period. However, with the official implementation of the export ban, enterprises had to reduce foreign exports and instead increase domestic supply, causing the spot price to come under pressure and decline. The Ministry of Commerce of China announced on August 15 that from September 15, export controls would be imposed on strategic items such as antimony. The official said this was a common international practice aimed at better safeguarding national security and fulfilling international obligations such as non - proliferation.

As a strategic metal, antimony is widely used in the military industry, such as in ammunition, infrared missiles, nuclear weapons, and night - vision equipment, as well as in batteries andphotovoltaicequipment applications. As the worlds largest antimony producer, China accounted for 48% of the global antimony ore mining volume last year and plays a crucial role in the global supply chain. However, the implementation of export controls has led to a sharp decline in exports, reflecting the direct impact of policies on the industrial chain.

Analysts pointed out that the export ban requires exporters to apply for export licenses for dual - use items and technologies, which can be used for both military and civilian purposes. Due to the complex application process and the time required, some goods are stranded in the domestic market, increasing domestic supply and further depressing the spot price. Data from Shanghai Nonferrous Metals Network shows that the spot price of antimony ingots in China fell by 7.5% in October. Since Beijing announced the export ban on August 15, it has fallen by a cumulative 11.5%. As of November 19, it was 141,000 yuan per ton (about S$26,000).

In sharp contrast to the decline in antimony prices in the Chinese market, due to tight supply in the European market, the price of antimony ingots has increased significantly. Cristina Belda, an analyst at information service agency Argus, pointed out that driven by Chinas new export control measures and the global supply shortage, the price of antimony in Europe and the United States broke through the threshold of $30,000 per ton in October, reaching a record high. Currently, the global antimony warehouse inventory has reached an extremely tight state, further pushing up market prices.

Belda said that for Western traders, the risks of antimony trade are becoming increasingly difficult to manage. The supply channels have become less reliable, and it is unclear how Western buyers can improve this situation. she added. This situation not only exacerbates the uncertainty of the global antimony market but also further highlights the importance of antimony as a strategic metal.

In addition, the antimony export ban has also had a significant impact on the domestic market in China. Due to export restrictions, the domestic market supply has increased, and the spot price of antimony ingots has come under pressure and declined. Exporters must apply for export licenses under strict supervision, and any goods that fail to obtain approval in a timely manner will have to be stranded in the country, leading to a further price decline. At the same time, the increase in domestic demand also poses higher requirements for supply chain management. Enterprises need to meet the domestic market demand while striving to find legal and compliant export channels.

It is worth noting that although Chinas antimony exports have dropped significantly, the domestic demand for antimony remains strong. With the continuous development of the technology and military - industrial industries, the demand for antimony remains high. This combination of demand and export restrictions has created a tight supply - demand situation in the domestic market, thus affecting the price fluctuations of antimony products.

Globally, the impact of Chinas antimony export ban is particularly significant. Europe and the United States, as the main antimony - importing markets, are facing the dual pressures of supply shortages and price increases. Especially in the military and high - tech fields, the demand for high - quality antimony products is constantly increasing, making the stability of the supply chain a key issue. As the price of antimony rises, high - consumption sectors in Europe such as the pharmaceutical, automotive, and chemical industries will be directly impacted. This not only increases production costs but may also lead to price increases of related products, affecting market competitiveness.

Facing this challenge, Western countries and enterprises need to find new supply channels to ensure the stable supply of antimony. Some countries may increase the development of antimony ore resources or seek cooperation with other antimony - producing countries to make up for the supply gap from China. At the same time, enterprises also need to optimize supply chain management and improve resource utilization efficiency to cope with the risks of market fluctuations and supply uncertainties.

The Chinese governments export control policy not only aims to safeguard national security and fulfill international non - proliferation obligations but also reflects Chinas important strategic layout in global strategic resource management. By controlling the export of strategic metals such as antimony, China can not only ensure the stable development of domestic industries but also play a greater role on the international stage. However, this policy also needs to balance domestic and foreign market demands to avoid having too much negative impact on international trade relations.

Overall, Chinas antimony product export ban has had a profound impact on both domestic and foreign markets. The sharp decline in exports and the fluctuations in spot prices not only affect Chinese export enterprises and the global supply chain but also pose challenges to the price stability and industrial development of the international market. In the future, with the further implementation of policies and the gradual adjustment of the market, the supply - demand relationship and price trend of the antimony market will remain highly sensitive, worthy of continuous attention and response from all parties.