SMM

According to customs data, China's antimony oxide exports in November 2025 were 302 mt, a significant increase MoM compared to the 108 mt exported in October. Although the volume remains relatively low compared to normal export levels, many market participants noted a marked improvement compared to the previous months, which saw exports of only a few hundred mt, indicating a strengthening trend in export willingness along the industry chain. While full-year 2025 antimony oxide exports are expected to be substantially lower than the previous year, if the overall export trend continues to improve, it is expected to positively impact market confidence in antimony prices for December and even the coming year.