{"id":2462,"date":"2024-12-05T15:02:34","date_gmt":"2024-12-05T08:02:34","guid":{"rendered":"https:\/\/pacificcapital.vn\/?p=2462"},"modified":"2024-12-05T15:02:36","modified_gmt":"2024-12-05T08:02:36","slug":"key-brics-country-stops-supplying-a-material-that-the-us-cannot-produce-even-1-gram-of-price-soars-40-in-just-1-day-the-west-is-under-great-pressure","status":"publish","type":"post","link":"https:\/\/pacificcapital.vn\/en\/key-brics-country-stops-supplying-a-material-that-the-us-cannot-produce-even-1-gram-of-price-soars-40-in-just-1-day-the-west-is-under-great-pressure\/","title":{"rendered":"Key BRICS country stops supplying a material that the US cannot produce even 1 gram of: Price soars 40% in just 1 day, the West is under great pressure"},"content":{"rendered":"\n

China is the world’s largest producer of antimony and the new export ban is putting huge pressure on the US and Europe.<\/h2>\n\n\n\n

Antimony prices jumped 40% on December 4, shortly after China announced a ban on exports of several key minerals to the United States. Beijing has now implemented the restrictions on antimony, gallium and germanium, which are important minerals with widespread military and civilian uses.<\/p>\n\n\n\n

This year alone, the price of antimony has increased by 300%, from $11,000 a ton to more than $40,000 a ton. Experts predict that the price of the metal will reach more than $50,000 a ton next year.<\/p>\n\n\n\n

\u201cIn principle, the export of gallium, germanium, antimony and superhard materials to the United States is not allowed,\u201d China\u2019s Ministry of Commerce said on December 3.<\/p>\n\n\n\n

China is the world’s largest producer of antimony, accounting for 48% of global production. Its output in 2023 is expected to reach 40,000 tonnes, nearly double that of Tajikistan, while T\u00fcrkiye is the third largest producer with 6,000 tonnes.<\/p>\n\n\n\n

This year, China accounted for 59.2% of the world’s refined germanium output and 98.8% of refined gallium, according to consultancy Project Blue.\ufeff<\/p>\n\n\n\n

Anitmony is considered a strategic metal used in military applications such as ammunition, infrared missiles, nuclear weapons, as well as lead-acid storage batteries used in automobiles and brake pads due to its good heat resistance properties.<\/a><\/p>\n\n\n\n

Antimony is also a common ingredient in the solar industry to increase the transparency of the glass coating on solar panels and is also used in the production of smartphones.<\/p>\n\n\n\n

Western powers have spent $100 billion on additional weapons, including cruise missiles, artillery shells, ammunition and armored vehicles that contain antimony. Remarkably, the United States cannot produce any antimony.<\/p>\n\n\n\n

\u201cThis is a sign of the times,\u201d Christopher Ecclestone, a mining strategist at Hallgarten & Company in London, said shortly after Beijing announced the antimony export ban. \u201cEvery country needs antimony for weapons and it is better to hold it than sell it. Beijing\u2019s move will put real pressure on the US and European militaries.\u201d<\/p>\n\n\n\n

And of course, the stocks of these rare metals producers have also soared. Hunan Gold Corporation, one of the largest antimony producers, is up 64% this year, while Perpetua Resources is up 270% year to date.<\/p>\n\n\n\n

Beijing\u2019s latest announcement comes a day after Washington imposed restrictions on China\u2019s chip industry, restricting exports to 140 companies, including chip equipment maker Naura Technology Group. The moves mark an escalation in trade tensions between the world\u2019s two largest economies.<\/p>\n\n\n\n

Last year, China said it would impose export restrictions on eight gallium-related products and six germanium products starting in August 2023. The move was in retaliation for US trade restrictions and tariffs on Chinese-made goods. On August 14, Beijing tightened its export controls, limiting the sale of antimony to US companies.<\/p>\n\n\n\n

Reference Oilprice; Reuters<\/em><\/p>\n\n\n\n

Vu Lam\/Market Pulse<\/p>\n","protected":false},"excerpt":{"rendered":"

China is the world’s largest producer of antimony and the new export ban [\u2026]<\/span><\/p>\n","protected":false},"author":1,"featured_media":1075,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/posts\/2462"}],"collection":[{"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/comments?post=2462"}],"version-history":[{"count":1,"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/posts\/2462\/revisions"}],"predecessor-version":[{"id":2463,"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/posts\/2462\/revisions\/2463"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/media\/1075"}],"wp:attachment":[{"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/media?parent=2462"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/categories?post=2462"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pacificcapital.vn\/en\/wp-json\/wp\/v2\/tags?post=2462"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}