Antimony (chemical symbol Sb) is a silvery white, brittle metal element with both metallic and non-metallic properties. It is an important strategic mineral resource. Antimony exists mainly in the form of natural antimony and antimony ore, the most common of which is stibnite (antimony sulfide, Sb₂S₃). Antimony has a wide range of applications, including alloy manufacturing, flame retardants, chemical catalysts, electronic components, and medicine. It is a key material in many industrial fields and an indispensable resource in both civilian and military applications.
China is the world's largest producer and exporter of antimony. According to data from the United States Geological Survey, the global antimony ore reserves in 2023 were approximately 2.17 million tons, concentrated in China, Russia, Bolivia, Kyrgyzstan, Australia, Myanmar etc. China's antimony ore production accounted for as much as 48% of the world's production.
On December 3, 2024, the Ministry of Commerce of China issued an announcement, announcing the prohibition of dual-use items from being exported to U.S. military users or for military purposes. In principle, the export of dual-use items such as gallium, germanium, antimony, and superhard materials to the United States will not be permitted in order to safeguard national security and interests. The announcement has been officially implemented since December 3, 2023. If export operators violate the above provisions and transfer or provide relevant dual-use items originating in the People's Republic of China to organizations and individuals in the United States, they will be held accountable according to law.
From 2019 to 2023, China's antimony resource exports showed an overall downward trend. According to CRI analysis, in 2023, China's antimony resources have been exported 50,889 tons, a year-on-year decrease of 8.3%; the export value of antimony resources was US$456 million, a year-on-year decrease of 20.9%. However, in 2024, China's antimony resource exports have rebounded. As of October 2024, the export value of antimony resources has reached approximately US$489 million, a year-on-year increase of 25.8%.
From 2019 to October 2024, the average export price of China's antimony resources generally showed a fluctuating upward trend. According to CRI analysis, from 2019 to October 2024, the average export price of China's antimony resources rose from US$5.66 per kilogram to US$13.54 per kilogram, reaching a peak in recent years.
From 2019 to 2023, China exported antimony resources to about 76 countries and regions around the world, with a diversified export structure and a variety of antimony resource categories. Specifically, it includes antimony sulfide, antimony oxide, antimony powder, unwrought antimony, raw antimony, other antimony ores and their concentrates, antimony products and even unwrought lead with antimony as the main doping element. The main categories are antimony oxide, unwrought antimony and other antimony ores and their concentrates (distinguished from raw antimony as a beneficiation product).
According to CRI analysis, the United States, Japan, South Korea, India, and Taiwan are the main destinations for China's antimony resource exports, divided by export value. According to CRI analysis, The United States was the largest export destination for China's antimony resource in 2023.In 2023, China exported about 12,070 tons of antimony resources to the United States, accounting for 23.7% of China's total antimony resource exports that year. In 2023, the amount of antimony resources exported by China to the United States was approximately US$121.72 million, accounting for 26.7% of the total export value.
China is main producer and exporter of antimony resources in the world. Since China began to impose stricter controls on antimony resource exports from December 3, 2024, CRI predicts that in 2025, China's antimony resources export volume and value will decline significantly compared with 2023-2024, and the export structure and price will also change more significantly.
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