Following the implementation of export controls, the first six months saw only one-fourth of last year’s level clear Chinese customs.
China’s antimony exports have dropped sharply in the first half of the year, continuing a downward trend triggered by export controls imposed last year. Customs data show that only 107 tons cleared customs in June, 97% lower than the 3,199 tons recorded during the same month last year. Looking at the first half of the year, shipments have declined roughly 74% compared to the first half of 2024.
Antimony exports have declined significantly over the last months.
The decline follows China’s announcement in August 2024 to include antimony and its compounds on its list of export-controlled materials. Since mid-September, companies have been required to apply for official licenses to ship these materials abroad. The immediate aftermath saw a surge in exports, peaking in September, as exporters rushed to beat the new restrictions. However, volumes collapsed in October and have since struggled to recover. The latest figures indicate a fresh leg downward.
China Flexes its Critical Minerals Market Power
As the world’s leading producer, China has significant market power, underlining the significance of further export curbs. The People’s Republic accounts for over half of the world’s mine production, with the refining capacities share estimated to be above 85%. Antimony is a strategic metal used to harden alloys of lead and other metals. In the form of antimony trioxide, it is also crucial in the manufacture of flame retardants, making it a vital input in various industrial applications.
While antimony shipments have not completely dropped to zero, other critical minerals subjected to similar controls have. Exports of heavy rare earth elements, such as dysprosium and terbium, as well as key technology metals like gallium and germanium, plummeted to zero shortly after being added to the export control list and remain far below their former levels.
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