Commodities
Gallium Prices Jump as Buyers Lock in Supply Before China Export Controls
- China announced export restrictions on two minor metals Monday
- Gallium prices tracked by Fastmarkets rose 27% this week
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Global gallium prices jumped 27% this week as buyers reacted to China’s move to control exports of the niche metal used in an array of high-tech industries.
Beijing’s announcement on Monday has been viewed as a retaliation over recent trade restrictions targeting the country’s semiconductor industry, and comes amid broader efforts by the US and Europe to reduce its dominance in the supply chain for critical raw materials.