Last week, antimony market participants met in Brussels for Antimony Day 2022.  Project Blue presented a market overview and outlook.

The first session focussed on sustainability, with the panel discussing the impact of the EU Green Deal on the antimony supply chain.  The second session explored sourcing, with responsible sourcing the key topic of discussion for a panel comprised of the OECD, Glencore, Perpetua Resources and Project Blue. 

Session three centred on resources, focusing on how recyclable antimony is and which loops still need to be closed.  Two presentations pointed towards encouraging outlooks for recycling antimony from polymers and PET fibres.  The final session explored the role antimony plays in a safe and sustainable world.    

Project Blue’s outlook for antimony demand is one of modest demand growth albeit with potential downside risks related to regulation, price-based substitution, and supply tightness.  Meanwhile, while supply is expected to be sufficient to meet demand – there remains considerable uncertainty.

Of the top three mine producers, China, the biggest, continues to see output fall owing to dwindling reserves and declining grades.  Russian output levels have the potential to swing wildly and depend considerably on Polyus – which has the ability to flood the market at any point (but is at present producing modest levels of antimony material).  And Tajikistan's output continues to increase and may rise further if the Talco Gold project enters production.