Latest Update in the China Tungsten / Cobalt / Antimony Market

The operating income at Hoshine in the third quarter of 2021 was 6.413 billion yuan, a year-on-year increase of 200.15%; net profit attributable to the parent company was 2.63 billion yuan, an increase of 875.66% year-on-year.

The silicon metals prices skyrocketed in September and started to fall after the National Day holiday in October. The prices of oxygen-free 553# silicon basically lost all the gains in September, and the prices of high-grade silicon was relatively firm.

On October 26, the People's Bank of China (PBOC) implemented a seven-day reverse repo of 200 billion yuan in the open market, with the bidding interest rate of 2.20%.

The electricity price rose 16%-50%, with over 0.7 yuan/kWh in individual regions. The difference of the electricity cost in various regions can be 4,000 yuan/mt, and the cost difference even reaches 5,000 yuan/mt if added the raw material costs of silicon plants in various regions. 

The social inventory of silicon metal across Huangpu port, Kunming city and Tianjin port increased 3,000 mt from the previous week to 61,000 mt as of Friday October 22.

In response to the recent hot events in the real estate industry, many Chinese regulatory agencies have recently intensively spoken out on different occasions.

According to customs data, China imported 2,153 mt of molybdenum concentrate and molybdenum oxide in September 2021, a sharp decrease of 52.7% from September.

The National Development and Reform Commission (NDRC) will do its best to ensure the stability of the supply and prices of bulk commodities, Jiang Yi, deputy director of the NDRC’s System Reform Department, stated at the NDRC press conference held on October 21.