Summary
Spot prices for gallium and germanium have surged amid tightened Chinese enforcement and collapsing export volumes. U.S. buyers are increasingly rerouting through third countries to avoid direct bans.
Key Event Details
Chinese exports of germanium and antimony plunged by about 95% and 88% in June compared to January, reflecting an aggressive smuggling crackdown. High-purity germanium prices have more than doubled, and antimony prices have nearly quadrupled. Source: https://www.reuters.com/world/china/chinese-exports-two-critical-minerals-plunge-even-rare-earths-rebound-2025-07-21/
U.S. importers are routing shipments via intermediary nations such as Thailand and Mexico to bypass China’s export bans, despite rising compliance scrutiny. Source: https://www.reuters.com/business/autos-transportation/how-us-buyers-critical-minerals-bypass-chinas-export-ban-2025-07-09/
Strategic Takeaways
Price volatility is intensifying as export channels narrow.
Reliance on informal routing via intermediaries is becoming riskier.
Recycling and domestic recovery solutions are gaining strategic importance.
Watchlist Companies
Company | Ticker | Region | Reason to Watch | Company Website | Source Article |
|---|---|---|---|---|---|
Neo Performance Materials | NEO | Canada/Global | Exited separation facilities in China early 2025 and ramping North American recycling of gallium. | ||
Ucore Rare Metals | UCU.V | Canada/US | Developing U.S.-backed rare earth and gallium recovery processing technologies. |
Action Points
Monitor spot and futures price trends for gallium and germanium.
Track Neo’s news flow on recycling expansion and facility developments.
Watch Ucore’s technology validation and government-backed project announcements.