![]() ![]() There are industry reports that an auction will take place in August or September, and four or five major firms are expected to purchase the stocks. Market participants are also waiting to see how the government will handle the APT stocks. Market participants have warned that a possible sudden release of these stocks could cause a price collapse in the spot market. The Yunnan superior court on 26 July upheld an earlier decision by the intermediate court in Kunming, which in March handed out fines of 1bn yuan ($150mn) to Fanya and Yn500mn, Yn50mn and Yn5mn to four related companies for illegal fund raising and embezzlement. The auctions pushed down prices for 99.99pc grade indium metal to the lowest level since at least November 2006.įanya's reported stocks also included 19,228t of bismuth, 26,951t of ammonium paratungstate (APT), 18,661t of antimony and 191t of gallium. The second auction in April found a buyer for 34.64t at Yn1,080/kg without a 13pc VAT. The first auction for 37.41t of metal, which was bid at Yn1,080/kg in January, failed to attract any buyers. Use them in commercial designs under lifetime, perpetual & worldwide rights. The Kunming court held two auctions of indium stocks from Fanya earlier this year. Perpetua said it plans to continue to engage with other potential end users of antimony and will provide updates as they become available. Several suppliers have cut their offer prices on concerns that the Fanya auction will further weigh on the spot market in the coming weeks. Market participants in Hunan province, China's largest producing region for the metal, are watching for further developments and holding their offer prices firm because of low profit margins. ![]() The auction price of Yn29,259/t value-added tax (VAT) unpaid is around 10pc lower than spot prices, which are assessed at Yn35,500-37,500/t today, down by Yn500/t from Yn36,000-38,000/t on 13 August. The stocks to be auctioned, which are stored at Guangxi National Stock Distribution, account for around 20pc of China's annual antimony output.Ĭhina Minmetals and several other state-owned companies are expected to purchase the stocks. The auction will start at 10:00 Beijing time (0200 GMT) on 31 August and end at 10:00 Beijing time on 1 September. The intermediate court of Kunming, the capital of Yunnan province, has posted 18,661t of antimony metal for auction on China's largest e-commerce platform Alibaba. Antimony is a chemical element with the symbol Sb (from Latin: stibium) and atomic number 51. China's Yunnan government will auction antimony metal stocks held by the collapsed Fanya Metal Exchange (FME) at the end of August. The stock of United States Antimony (AMEX:UAMY, 30-year Financials) gives every indication of being significantly overvalued, according to GuruFocus Value calculation.GuruFocus Value is GuruFocus estimate of the fair value at which the stock should be traded. ![]()
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