Why is antimony trisulfide surging over 70% this year and what drives the supply gap?

Why is antimony trisulfide surging over 70% this year and what drives the supply gap?
Antimony trisulfide prices have rallied sharply since early 2025, with antimony metal up about 69% year-to-date and sulfide concentrate up over 70%, according to market data. The core driver is a severe raw material shortage: upstream mines in China have cut output after the holiday, some producers remain shut, and inventories are thin. China's antimony resources are depleting—domestic reserves fell from over 50% of global share in 2010 to about 19% by 2022—while mining quotas and environmental curbs limit new supply. Overseas projects in Tajikistan, Myanmar and Russia are delayed, and Oman's new smelter adds competition for feedstock. With strong export demand and downstream uses in flame retardants, lead-acid batteries and semiconductors, prices are expected to stay high.