October 12, 2024: Battery manufacturers are having to bite a new supply chain bullet. The price of antimony, a key alloy component in stationery lead batteries, has continued to rise and, at time of going to press, is trading at a stable market top of around $25,000 tonne.
The price of antimony has already doubled since the start of the year. This follows a decision by China in August — that came into force on September 15 — whereby six antimony-related products are subject to restrictions of ‘critical mineral shipments in the name of national security’.
It is this shortage, and the previous anticipation of a decision by the Chinese authorities earlier in the year, that has driven up the price.
“Motive power batteries using tubular grids require a much higher antimony content in their lead alloys than automotive alloys, using antimony typically up to 5% or more for the greater fluidity needed to cast those long, thin grid spines. This makes up around a third of the lead in such a battery, so the extra antimony cost piles on quickly,” said Farid Ahmed, international marketing director for recycling firm Ace Green.
Another lead battery consultant told Batteries International: “I’m now receiving calls from manufacturers wanting to know what levels can be lowered without dramatically affecting performance and what alternatives are open.”
And a third consultant approached by this newsletter said he had already held a similar conversation about the subject.
The implications for battery manufacturers are serious. “For a couple of decades now, as most automotive batteries become maintenance-free, the industry was expecting to be awash with excess antimony coming back in scrap,” said Ahmed. “This hasn’t happened and, at best, recyclers are squeaking by with just enough antimony, while the majority are still forced to supplement their feed with expensive purchases of the pure metal to make up a shortfall.
“On the upside for smelters, they are only paying for the antimony in scrap at the price of lead, but charging for it in finished alloys at elevated levels, if not right up to the price of new antimony. So maybe they should dry their tears just a little.”
China produces around 48% of the world’s antimony. (It also accounts for 63% of US imports of the metal.) According to DDIQ Analytics in 2023 Tajikistan also produced around 25% of the world’s supply of the metal. This falls to 7% Turkey, 6% Myanmar, 5% Russia and 4% Bolivia. Australia has recently announced that it has gold-antimony mines that could soon challenge other countries’ stake in the business.
Other industries aside from batteries use antimony most notably in photovoltaic cells — a rapidly growing area of business as well as fire retardants, ammunition and radiation shielding.
But how serious is this? One of the consultants who talked to us said: “We’ve had similar politically-induced shortages like this before. One of the odd things about these situations is that we tend to ride through them — or at least until the next alloy shortage of another metal happens.
“They loom large, for a while, and then fall out of sight.”
