A relatively quiet final week of July still brought some unexpected action in the PGM sector, with rhodium surging to a multi-year high amid tightening supply. Taking advantage of the calm, we also take a closer look at the short list of countries still receiving the critical strategic metal germanium from top producer China.
Two Years of Export Restrictions: Which Countries Still Receive Significant Quantities of Germanium?
The latest figures from China’s customs authority reveal a sharp year-over-year drop: in the first half of 2025, China exported just 5,068 kilograms of germanium, down from 12,410 kilograms during the same period in 2024, a decline of more than 50%. Exports in April and June 2025 fell to nearly zero.
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Brazil Seeks Clarity on Its Natural Resources
Only around 30 percent of Brazil’s natural resources, including critical raw materials, have been thoroughly explored, according to President Luiz Inácio Lula da Silva. To change that, he announced the formation of a new commission earlier this week. Lula also pointed to U.S. interest in the country’s critical minerals, according to broadcaster Globo. However, he stressed that the sale of these resources, or the land where they are found, must not take place without government approval.
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Price Guarantees as a Blueprint for Rare Earths Made in the USA?
In July, the U.S. Department of Defense announced it would take a stake in rare earth producer MP Materials, including price guarantees above current market levels. According to Reuters, this was also a key topic at a meeting between government officials and industry stakeholders last month, where insiders say signals were given that such guarantees are unlikely to remain a one-off.
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Rhodium Price Jumps 35% in July on Tight Supply
Rhodium prices soared 35% in July, marking their sharpest monthly gain in years as supply imbalances and renewed industrial demand pushed the metal to its highest level since early 2023.
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