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The price of the critical mineral antimony in the US has soared more than 300% in 2024 as demand rises and supply is severely restricted — in particular, an export ban from China to America.
A supply shortage triggered the steepest rally in price “ever recorded” in the global antimony market in April, according to FastMarkets who began recording prices from January 1980.
Now, China has banned the export of antimony, as well as gallium and germanium, to the US, in retaliation for stricter restrictions imposed by the US for semiconductor-related exports to China.
In the US, the main primary consumption of antimony in 2023, were:
- 43%, metal products, including antimonial lead and ammunition
- 35%, flame retardants
- 22%, nonmetal products, including ceramics and glass and rubber products
Antimony is listed as a critical mineral in the US, EU, Japan and Australia.
China dominates global supply, but its share is steadily deceasing:
- in 2000, China produced 100,000 tonnes, out of a global total of 121,000 tonnes
- in 2024, China produces 40,000 tonnes, out of a total of 83,000 tonnes
However, not only is China’s percentage falling, but supply elsewhere is not acting as a substitute for the fall in China production.
Our analysis on why antimony prices are exploding:
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