BEIJING/SHANGHAI :A move by China to restrict exports of some metals widely used in semiconductors, electric vehicles and high-tech industries has ramped up a trade war with the United States and could potentially cause more disruption to global supply chains. Companies are rushing to react to the abrupt news
BEIJING/SHANGHAI :A move by China to restrict exports of some metals widely used in semiconductors, electric vehicles and high-tech industries has ramped up a trade war with the United States and could potentially cause more disruption to global supply chains.
"China has hit the American trade restrictions where it hurts," said Peter Arkell, chairman of the Global Mining Association of China. China is the dominant producer of gallium and germanium. In 2022, top importers of China's gallium products were Japan, Germany and the Netherlands, news website Caixin said, citing customs data. Top importers of germanium products were Japan, France, Germany and the United States, it said.U.S.
"Offer prices in the domestic market and the export market have increased to 10,000 yuan per kg and over $1,500 per kg, respectively," he said. Shares in some metal producers rose on Tuesday, with Yunnan Lincang Xinyuan Germanium Industry Co jumping 10 per cent by the daily upper limit, and Yunnan Chihong Zinc & Germanium Co climbing 7 per cent.China's controls come as Washington mulls new restrictions on the shipment of high-tech microchips to China, following a series of curbs in recent years.
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