Summary
Spot prices for gallium and germanium have surged amid tightened Chinese enforcement and collapsing export supply. U.S. buyers are increasingly rerouting shipments through third countries to avoid direct bans.
Key Points
• Chinese exports of germanium and antimony plummeted by approximately 95% and 88% in June versus January. 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 restrictions, heightening compliance risks. Source: https://www.reuters.com/business/autos-transportation/how-us-buyers-critical-minerals-bypass-chinas-export-ban-2025-07-09/
Why It Matters
• Price volatility is rising sharply as formal and informal supply routes narrow.
• Reliance on gray‑market sourcing is increasingly precarious.
• Recycling and domestic recovery solutions are becoming strategically critical.
Watchlist Companies
• Neo Performance Materials – Source: https://www.reuters.com/world/china/neo-performance-materials-exits-separation-facilities-in-china-2025-05-22/
Reason: Expanding North American recycling-based gallium output and exited China operations.
• Ucore Rare Metals – Source: https://www.mining.com/web/china-launches-campaign-to-crack-down-on-strategic-minerals-smuggling/
Reason: Developing U.S.-backed gallium and rare-earth recovery technology aligned with domestic waste-recovery policies.
Critical Minerals Spotlight
The EU’s 2023 list includes 34 critical raw materials deemed essential to clean energy, defense, and high-tech sectors. Each faces supply risk and strategic importance. en.wikipedia.orgcss.umich.edu+15en.wikipedia.org+15usgs.gov+15en.wikipedia.org+2usgs.gov+2reuters.com+2
34 CRITICAL MINERALS
Aluminum – Key for aerospace, packaging, and EV bodies
Antimony – Flame retardants and semiconductors
Arsenic – Microelectronics and wood preservatives
Baryte – Drilling fluids in oil/gas operations
Beryllium – Aerospace alloys and nuclear moderators
Bismuth – Low-toxicity lead substitute in electronics
Cerium – Catalysts, polishing agents, glass additives
Cesium – Specialized electronics, oilfield drilling fluids
Chromium – Stainless steel and superalloys
Cobalt – Battery cathodes, superalloys, magnets
Dysprosium – Permanent magnets in EV motors and wind turbines
Erbium – Fiber optics amplifiers and lasers
Europium – Phosphors for LEDs and displays
Fluorspar (Fluorite) – Fluorochemicals and aluminum refining
Gadolinium – MRI contrast agents and magnets
Gallium – Semiconductors, LEDs, solar technologies
Germanium – Fiber optics, infrared optics, electronics
Graphite – Lithium-ion battery anodes and industrial lubricants
Hafnium – High-temperature alloys and nuclear control rods
Holmium – High-performance magnets and lasers
Indium – LCD screens, solders, touchscreens
Iridium – High-temp spark plugs, crucibles, radioisotope sources
Lanthanum – Camera lenses, catalysts, NiMH batteries
Lithium – EV batteries and energy storage systems
Lutetium – Medical imaging and PET scanners
Magnesium – Lightweight structural alloy in aerospace and EVs
Manganese – Steel strengthening and battery cathodes
Neodymium – Permanent magnets in EVs and wind turbines
Nickel – Stainless steel, battery cathodes, aerospace alloys
Niobium – Superalloys and electronic filters
Palladium – Catalytic converters and electronics
Platinum – Catalysts, fuel cells, industrial equipment
Praseodymium – Magnets and aerospace alloys
Rhodium – Catalytic converters and chemical industries
Rubidium – Specialty electronics and atomic clocks
Ruthenium – Electronics resistors, catalysts, solar cells
Samarium – Magnets, nuclear reactors, and lasers
Tantalum – Capacitors, medical implants, aerospace components
Tellurium – Solar cells (CdTe), thermoelectrics
Terbium – Green phosphors for lighting and displays
Thulium – Medical and military lasers
Tin – Soldering, electronics, plating
Titanium – Aerospace alloys, medical implants, pigments
Tungsten – Cutting tools, heavy alloys, defense applications
Vanadium – High-strength steel and grid-scale batteries
Ytterbium – Fiber-optics and atomic sensors
Yttrium – LEDs, phosphors, superconductors
Zinc – Corrosion protection, alloys, batteries
Zirconium – Nuclear cladding, ceramics, chemical processing
Action Points
• Monitor spot and futures pricing for gallium and germanium.
• Track corporate updates from Neo and Ucore on recycling and processing innovations.
• Watch government policy developments related to waste‑recovery funding and critical mineral processing incentives.
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