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VW, which relies on gallium and germanium for automotive products, said it was "ready to take measures together with its partners if necessary" but did not elaborate. The metals will also play a role in future autonomous driving functions, a spokesperson for the German carmaker said. The export curbs are likely to further strain U.S.-China relations as the countries vie for dominance in semiconductor and defence technologies. But if prices rise as restrictions take hold companies would have another reason to shift supply chains. Chipmaker NXP Semiconductors (NXPI.O) sees no material impact on its business.

Persons: Imelda Medina, Yellen, Janet Yellen, carmaker, Liao Chien, Taiwan's TSMC, chipmaker, NXP, Josephine Mason, Catherine Evans Organizations: Volkswagen, REUTERS, VW, WIN, Treasury, Capital Securities Corp, WIN Semiconductors, Reuters, Apple, Nvidia, Thomson Locations: Puebla, Mexico, Beijing TAIWAN, China, Beijing, U.S, Germany, Japan, Taiwan

☆ Morning Bid: Fed hawks, China tensions keep markets under pressure
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Kevin BucklandU.S. policymakers are stealing the spotlight in the markets today, after the Fed cemented its hawkish credentials overnight and Janet Yellen started a trip to China just as Beijing restricts chip-making metal exports. APAC investors clearly took notice, sending stocks sliding and bond yields higher in a signal that Europe should brace for the same. The key takeaway from minutes of the Fed's June meeting overnight is that the unanimous decision to hold wasn't so unanimous after all, with the hawks just biding their time. Traders see a July hike as pretty much assured, but it's still a coin toss whether there will be another after that. Britain will report construction PMIs for June later in the day, as will Germany, which also has factory order figures for May on the release schedule.

Persons: Kevin Buckland, Janet Yellen, wasn't, it's, It's, Mark Zuckerberg, Elon Musk, Zuckerberg, Yellen, Edmund Klamann Organizations: Fed, Traders, Friday's U.S, U.S, Treasury, Reuters Graphics, Thomson Locations: China, Beijing, Europe, United States, Japan, Netherlands, Britain, Germany, UK, PMIs

☆ TSMC does not expect direct production impact from China's metal export curbs
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, July 6 (Reuters) - Taiwan's TSMC (2330.TW), the world's largest contract chipmaker, said on Thursday it does not expect any direct impact on its production from China's decision to restrict exports of two metals widely used in semiconductors and electric vehicles. That followed the U.S. decision to impose export restrictions to curb China's access to key technologies used for artificial intelligence. "After evaluation, we do not expect the export restrictions on raw materials gallium and germanium will have any direct impact on TSMC's production," Taiwan Semiconductor Manufacturing Co said in an emailed statement. China's restrictions will have a very limited impact on the company's short-term procurement and wafer production and delivery, WIN added. Visual Photonics Epitaxy said it had noticed little effect so far from China's export restrictions.

Persons: TSMC, chipmaker, Janet Yellen's, Yellen, Liao Chien, Ben Blanchard, Roger Tung, Tom Hogue, Jamie Freed Organizations: Apple, Nvidia, Taiwan Semiconductor Manufacturing, Treasury, Capital Securities Corp, WIN Semiconductors, Reuters, WIN, Visual Photonics, Photonics, Thomson Locations: TAIPEI, Beijing, U.S, Taiwan, Taipei, China, Germany, Japan

☆ Volkswagen ready to act amid China metal export curbs
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: 1 min

Companies Volkswagen AG FollowJuly 6 (Reuters) - Volkswagen (VOWG_p.DE) on Thursday said it was monitoring the situation on the raw materials markets after China announced it would control exports of some metals, adding that it was "ready to take measures together with its partners if necessary". China's commerce ministry said earlier this month it would require export permits for eight gallium products and six germanium products from August 1 to protect national security. A Volkswagen spokesperson told Reuters that gallium and germanium were important resources for automotive products and played a role in future autonomous driving functions. Reporting by Jan Schwartz, Writing by Anna Mackenzie, Editing by Friederike HeineOur Standards: The Thomson Reuters Trust Principles.

Persons: Jan Schwartz, Anna Mackenzie, Friederike Heine Our Organizations: Volkswagen, China, Thomson

☆ China says it told the U.S. and Europe about the export controls in advance
▼ + stars: | 2023-07-06 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +1 min

BEIJING — China's Ministry of Commerce said Thursday the country told the U.S. and Europe about this week's export controls in advance. China did so through "export control dialogue channels," commerce ministry spokesperson Shu Jueting said in Mandarin, translated by CNBC. The commerce ministry announced Monday that starting Aug. 1 China would restrict exports of gallium and germanium — two metals used in semiconductor manufacturing. That means companies in China need to apply for licenses in order to export the metals. Spokesperson Shu said the ministry had yet to receive any applications for export licenses, and noted the rules don't take effect until Aug. 1.

Persons: Shu Jueting, Shu Organizations: BEIJING — China's Ministry of Commerce, CNBC Locations: China, BEIJING, U.S, Europe

☆ 4 things making it harder for Janet Yellen to repair the US-China relationship
▼ + stars: | 2023-07-06 | by ( Laura He | ) edition.cnn.com time to read: +9 min

The global economy stands to gain if Washington and Beijing can mend fences, but analysts say this appears unlikely. Here are four things likely to make it harder for Yellen to repair US-China ties, and one thing keeping the relationship going. Sequoia’s executives said in a statement that it has become “increasingly complex” to run a decentralized global investment business. On Wednesday, US pharmaceutical firm Moderna (MRNA)signed a deal to make its first major investment in China. “Both sides are ramping up commercial restrictions in the name of national security and national interests,” she said.

Persons: Janet Yellen, China, ” Wei Jianguo, ”, Anna Ashton, Biden, Beijing’s, Wei, Capvision, Xi Jinping’s, “, Li Qiang, Xi, Alex Capri, ” Ashton, —, Jennifer Hansler, Wayne Chang, Bryan Mena Organizations: Hong Kong CNN, Eurasia Group, Micron Technology, China Daily, Analysts, China, Capvision, Bain & Company, Group, Forrester Research, Ontario, Republicans, Hawks, Shanghai Cooperation Organization, Xinhua, US Commerce Department, “, National University of Singapore Business School, Moderna Locations: Hong Kong, Beijing, United States, China, Chinese, Washington, Japan, Europe, Shanghai, New York, decouple, Moscow, Ukraine, Russia, Taiwan, Tianjin

☆ Pentagon has strategic germanium stockpile but no gallium reserves
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +3 min

WASHINGTON, July 6 (Reuters) - The Pentagon holds a strategic U.S. stockpile for germanium but currently has no inventory reserves for gallium, a spokesperson said on Thursday, after China announced export restrictions on the two metals used in semiconductors. "The (Defense) Department is proactively taking steps using Defense Production Act Title III authorities to increase domestic mining and processing of critical materials for the microelectronics and space supply chain, including gallium and germanium," the spokesperson said. Germanium is used in high-speed computer chips, plastics and military applications such as night-vision devices, as well as satellite imagery sensors. Gallium is used in radar and radio communication devices, satellites and LEDs. While major defense contractors like Lockheed Martin Corp (LMT.N) may not buy gallium and germanium directly, they likely purchase semiconductors from suppliers who source Chinese gallium and germanium, said Arun Seraphin, executive director for the National Defense Industrial Association’s Emerging Technologies Institute.

Persons: Arun Seraphin, ”, Dak Hardwick, Hardwick, Xi Jinping, Idrees Ali, Phil Stewart, Valerie Insinna, Rami Ayyub, Doina Chiacu, Mark Porter, Marguerita Choy Organizations: Pentagon, China, Defense, Department, Lockheed Martin Corp, National Defense Industrial, Emerging Technologies, Aerospace Industries Association, U.S, Shanghai Cooperation Organisation, Thomson Locations: U.S, China

That followed the U.S. decision to impose export restrictions to curb China's access to key technologies used for artificial intelligence (AI). China has been the go-to for companies because it is able to export processed minerals at a lower cost than other countries. In Taiwan, a senior government official said China's restrictions on exports of gallium and germanium marked "a new wave of retaliation" in a "tit-for-tat approach." Some industry watchers believed China's metals restrictions could trigger short-term supply snags and higher prices. But Navitas Semiconductor Corp (NVTS.O), which makes chips that use a substance called gallium nitride, on Wednesday said it expects no adverse effects to its business from China's export controls.

Persons: China's, Stewart Randall, Janet Yellen, Roy Lee, John Strand, Supantha Mukherjee, Hakan Ersen, Ben Blanchard, Brenda Goh, Kanishka Singh, Anne Marie Roantree, David Gaffen, David Gregorio Our Organizations: U.S . Department of Commerce, EV, Sweden's Ericsson, Ericsson, U.S, Treasury, Navitas Semiconductor Corp, Thomson Locations: SHANGHAI, STOCKHOLM, WASHINGTON, Beijing, U.S, China, United States, Shanghai, Intralink, Netherlands, Australia, Europe, Taiwan, South Korea, Japan, Korea, Copenhagen, Stockholm, Berlin, Taipei, Washington

"We'll have a much better sense after we get another major data point on Friday with the jobs report and the inflation data next week." MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) closed 0.93% lower, while Japan's Nikkei (.N225) lost 0.25%. In currencies, the U.S. dollar edged higher against other major currencies after Fed minutes reinforced expectations of another interest rate hike at the end of the month. The dollar index rose 0.272%, with the euro down 0.22% to $1.0853. And market participants were awaiting demand data from the July 4 U.S. holiday weekend, which tends to mark the peak U.S. travel season.

Persons: Mike Segar, outstrip Brent, Michael James, Jack Janasiewicz, Janasiewicz, ”, Paul Nolte, Sterling, Brent, Sinéad Carew, Lewis Krauskopf, Tom Wilson, Stella Qiu, Dhara, Sam Holmes, Helen Popper, Will Dunham, Christina Fincher Organizations: Wall, New York Stock Exchange, REUTERS, . Federal Reserve, Wedbush Securities, U.S . Commerce, Companies, U.S, Solutions, Traders, Murphy, Sylvest Wealth Management, “, Dow Jones, Nasdaq, Japan's Nikkei, Treasury, Brent, Thomson Locations: Manhattan, New York City , New York, U.S, Los Angeles, United States, China, Washington, Europe, Asia, Pacific, Japan, Saudi Arabia, Russia, New York, London, Sydney

☆ Western businesses must find a way to work with China-Stellantis CEO
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

Companies Stellantis NV FollowMILAN, July 5 (Reuters) - The head of carmaker Stellantis (STLAM.MI) said Beijing's decision to restrict exports of two metals widely used in semiconductors and electric vehicles should not push Western companies to reduce their exposure to China. "It's not realistic nor it is in the interest of Western companies," Tavares said. However it does work with a number of Chinese companies, including ones using gallium and germanium for products the carmaker is buying from them, Tavares said. Its first application will be for new Peugeot 3008 SUV, whose production will start this year at Sochaux facility in France. With the STLA Medium "we're really entering the race," Tavares told reporters, underlining the company's ambition in electric cars.

Persons: carmaker, Carlos Tavares, Tavares, Giulio Piovaccari, Gilles Guillaume, Keith Weir Organizations: Monday, European Union, Peugeot, Sochaux, Thomson Locations: China, France, Italy, Germany, North America

☆ Explainer-China's rare earths dominance in focus after mineral export curbs
▼ + stars: | 2023-07-05 | by ( Mai Nguyen | ) www.reuters.com time to read: +5 min

WHAT ARE RARE EARTHS AND HOW ARE THEY USED? The chemical properties of rare earths make them difficult to separate from surrounding materials, and processing generates toxic waste. Lax environmental standards enabled China to build its dominance in rare earths in recent decades as Western producers left the industry. Western countries have ramped up support to boost domestic production of critical minerals including rare earths. Electric vehicle maker Tesla is moving away from rare earths in future models to mitigate environmental and supply risks, as the rare earth industry struggles to meet demand.

Persons: Florence, Lynas Organizations: Reuters, REUTERS, United States Geological Survey, Adamas Intelligence, United, RARE, European Union, World Trade Organization Locations: China, Japan, Beijing, CHINA, United States, Australia, Myanmar, Thailand, Vietnam, Russia, Brazil, India, Canada, Las Vegas, California

☆ China unexpectedly cancels top EU diplomat's Beijing visit
▼ + stars: | 2023-07-05 | by ( Jenni Reid | ) www.cnbc.com time to read: +1 min

High Representative for Foreign Affairs Josep Borrell was due to meet Chinese Foreign Minister Qin Gang, pictured on May 23, 2023 in Beijing, China. High Representative for Foreign Affairs Josep Borrell was initially due to visit Beijing in April for the annual EU-China strategic dialogue with Chinese Foreign Minister Qin Gang, but that was delayed after Borrell tested positive for Covid-19. On Wednesday, an EU foreign affairs spokesperson confirmed to CNBC that Borrell's team had been told by their Chinese counterparts the new dates of July 10-11 were no longer possible and an alternative would need to be found. CNBC has contacted China's Ministry of Foreign Affairs for comment. The cancellation, or possible postponement, comes ahead of a scheduled visit to Beijing by U.S. Treasury Secretary Janet Yellen on Thursday.

Persons: Foreign Affairs Josep Borrell, Qin Gang, Thomas Peter, Borrell, Wang Wenbin, China's, Janet Yellen Organizations: Foreign Affairs, Foreign, High, CNBC, China's Ministry of Foreign Affairs, U.S, Treasury, Monday Locations: Beijing, China, EU, Ukraine

☆ China is restricting the export of two little-known metals crucial to the semiconductor industry. It shows Beijing still holds important chips in its tech war with the West.
▼ + stars: | 2023-07-05 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

China will restrict the exports of gallium and germanium — metals vital to chipmaking — from August 1. The export curb is seen as a retaliatory move by Beijing amid a chip war with the West. A recent move by China to restrict the export of two little-known metals has again sent the semiconductor industry into a tailspin. Exporters can apply for export licenses if they want to continue shipping the products out of China, per the notice. China accounts for about 80% and 60% of global gallium and germanium production, respectively, according to Critical Raw Materials Alliance, a European industry association.

Persons: —, Biden, Janet Yellen, haven't, Ewa Manthey, Europe — Organizations: Authorities, Morning, West, Wall Street, Eurasia Group, US, Industry, Reuters, Alliance, ING Locations: China, Beijing, Netherlands, United States, Japan, European, North America, Europe

☆ Germany's Scholz hints at more chip investments
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

"I know of other plans by German companies and many others," Scholz told the Bundestag lower house of parliament after listing recent projects announced by chipmakers Intel (INTC.O) and Infineon (IFXGn.DE). He vowed that Germany's efforts would help companies become less dependent on semiconductor supplies from other regions, days after China announced restrictions on two metals used in high-speed computer chips. "Many people around the world have understood that we have to become resilient, and that there are certain industries that should necessarily be located here in Europe and in Germany," Scholz said. Intel announced plans last month to spend more than 30 billion euros ($33 billion) on developing two chip-making plants in the central city of Magdeburg. "It's an impressive signal that so many German and international companies are choosing Germany for the expansion of their semiconductor production," Scholz told the Bundestag.

Persons: Olaf Scholz, Scholz, Taiwan's TSMC, Tesla, Matthias Williams, Sarah Marsh, Miranda Murray, Friederike Heine, Emma Rumney Organizations: chipmakers Intel, Infineon, Union, Intel, Thomson Locations: BERLIN, Germany, Europe, China, Moscow, Magdeburg, Berlin

☆ China's metal export curbs a 'warning' to US and its allies - Global Times
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

SHANGHAI, July 5 (Reuters) - China's move to restrict the exports of two metals crucial for making some types of semiconductors and electric vehicles is a warning that China will not be passively squeezed out of the global chips supply chain, the Global Times said. It also argued that China had for years exploited its own rare earth resources at the expense of the environment to supply the global semiconductor industry. "There's no reason for China to continue exhausting its own mineral resources, only to be blocked from pursuing technological development...," it said. China's abrupt announcement of controls from Aug. 1 on exports of the metals has ramped up a trade war with the United States and could potentially cause more disruption to global supply chains. Analysts saw the move, which the Chinese commerce ministry said was to protect national security, as a response to escalating efforts by Washington to curb China's technological advances.

Persons: Janet Yellen, Brenda Goh, Muralikumar Organizations: Global Times, U.S, Independence, Reuters, Thomson Locations: SHANGHAI, China, United States, Washington, Beijing

☆ China adviser warns chipmaking export curbs are 'just a start', as Yellen visit looms
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +4 min

Shares in some Chinese metals companies rallied for a second session, with investors betting that higher prices on gallium and germanium, which Beijing's export restrictions target, could boost revenues. Germanium is used in high-speed computer chips, plastics, and in military applications such as night-vision devices as well as satellite imagery sensors. China is the world's biggest producer of rare earths, a group of metals used in EVs and military equipment. CURBS ON EXPORTS TO CHINAWashington is considering new restrictions on the shipment of high-tech microchips to China, following a series of curbs over the past few years. China's germanium ingot was priced at 9,150 yuan per kg on Tuesday, also flat on the day and on the week, Refinitiv data showed.

Persons: Janet Yellen, Yellen's, Biden, China's, Wei Jianguo, Wei, Xi Jinping, Eikon, Brenda Goh, Amy Lv, Christopher Cushing, Muralikumar Organizations: Independence, Analysts, Micron, Commerce, China Daily, China Center for International Economic Exchanges, Global Times, Shanghai Cooperation Organization, Shanghai Metal Exchange, Beijing, Thomson Locations: BEIJING, SHANGHAI, Beijing, Japan, Netherlands, China, CHINA Washington, United States, Yunnan

WASHINGTON, July 5 (Reuters) - The United States "firmly" opposes export controls announced by China on gallium and germanium, metals needed to produce semiconductors and other electronics, a U.S. Commerce Department spokesperson said on Wednesday, adding that Washington will consult its partners and allies to address the issue. Earlier this week, China put export controls on gallium and germanium products, used in electric vehicles (EVs) and fiber optic cables. The abrupt announcement of controls from Aug. 1 has sent companies scrambling to secure supplies and bumped up prices. Gallium is used in radar and radio communication devices, satellites and LEDs. The United States will engage with our allies and partners to address this and to build resilience in critical supply chains," the Commerce Department spokesperson said in an emailed statement.

Persons: China's, Janet Yellen, Robert Habeck, Kanishka Singh, Eric Beech, Bill Berkrot Organizations: U.S . Commerce, Commerce Department, U.S, Independence, European Commission, Thomson Locations: United States, China, U.S, Washington, Beijing

July 6 (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. U.S.-China trade tensions appear to be intensifying by the day - the latest flare up coming over Beijing's restrictions on exports of some metals - not the best backdrop for Yellen's visit on Thursday. However well - or otherwise - Yellen's visit goes, there will be no quick fix. Here are key developments that could provide more direction to markets on Thursday:- U.S. Treasury Secretary Janet Yellen visits China- Australia trade (May)- Taiwan inflation (June)By Jamie McGeever; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Jamie McGeever, Janet Yellen, Taiwan's Foxconn, Foxconn's, Wei Jianguo, Lisa Shumaker Organizations: Treasury, Apple Inc, U.S, Vice Commerce, Bank Negara Malaysia, . Treasury, Thomson, Reuters Locations: Beijing, Malaysian, China, Washington, Malaysia, India, South Korea, Indonesia, New Zealand, Bank, Australia, Taiwan

☆ Germany says preparing for possible China export control impact
▼ + stars: | 2023-07-05 | by ( ) www.reuters.com time to read: +2 min

In 2022, China supplied 27 tonnes of gallium to Germany, accounting for 55% of total imports. Regarding germanium, China supplied 3 tonnes, or 75%, according to data supplied by the Federal Institute for Geosciences and Natural Resources (BGR). A German industry representative said earlier on Wednesday that China's decision may be in response to U.S. trade restrictions, but its impact will also be felt in Europe. "It is not yet possible to predict whether these measures will have an impact on our supply of these raw materials," Franziska Brantner, state secretary in Germany's economy ministry, told Reuters. "Based on what is known so far is initially only an export control measure, not restrictions," Brantner said.

Persons: Holger Kunze, Kunze, Franziska Brantner, Brantner, Germany's, Christoph Steitz, Riham, Rachel More, Friederike Heine, Alexander Smith, David Gregorio Our Organizations: Federal Institute for Geosciences, Natural Resources, Reuters, Thomson Locations: BERLIN, China, Beijing, United States, Germany, U.S, Europe, Brussels

☆ The Fed can’t decide how much money US households have left
▼ + stars: | 2023-07-05 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Interest rates are higher and so are prices, credit is drying up and there are signs that the labor market is finally softening. The problem is that no one, not even the Federal Reserve, knows how much longer the American consumer can keep on spending. Personal saving rates soared as a result, with US households amassing about $2.3 trillion in savings in 2020 and through the summer of 2021, according to Federal Reserve economists. Economists know that savings must be dissipating, but haven’t quite figured out just how much of that money is left. Just a few weeks later, economists at the Federal Reserve Board of Governors in Washington said just the opposite.

Persons: New York CNN — There’s, we’ve, ”, Torsten Slok, Lydia Boussour, Hanna Ziady, Xiaofei Xu, Beijing’s, Laura He, Wei Jianguo, Funflation, Beyflation — Taylor Swift, Fisher, don’t Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Commerce Department, Federal Reserve Bank of San, Governors, Apollo Global Management, Consumer, Reuters, China Daily, Fisher Investments, National Statistics Locations: New York, Federal Reserve Bank of San Francisco, Washington, United States, EY, Boussour, China, Beijing, Japan, Italy, Netherlands, Swiftflation

☆ Yellen's China visit aims at 'new normal' with Beijing
▼ + stars: | 2023-07-05 | by ( Andrea Shalal | ) www.reuters.com time to read: +6 min

Chinese officials are concerned about the Biden administration's plans to limit U.S. companies' China investments and what they see as moves to decouple the two economies. "There is no substitute for diplomacy," said one senior administration official. "Secretary Yellen’s trip is more than a step toward preparation for a potential Biden-Xi meeting at APEC. Despite the cooling relations, trade between the U.S. and China grew in 2022 for the third year in a row, U.S. Commerce Department data show. Two other Cabinet secretaries, Commerce chief Raimondo and U.S. Trade Representative Katherine Tai, met in May with Chinese Commerce Minister Wang Wentao.

Persons: Janet Yellen's, Biden, COVID lockdowns, Antony Blinken, Xi Jinping, Wu Xinbo, Yellen's, Gina Raimondo, Derek Scissors, Yellen, Russia's Wagner, Joe Biden, Xi, Scott Kennedy, Jake Colvin, Donald Trump, Colvin, Lifeng, Liu He, Raimondo, Katherine Tai, Wang Wentao, Andrea Shalal, Michael Martina, Lun Tian Yew, Dan Burns, Heather Timmons, Andrea Ricci Organizations: . Treasury, China's Fudan University, American Enterprise Institute, U.S, Economic Cooperation, Biden, APEC, Center for Strategic, International Studies, Foreign Trade, . Commerce Department, Treasury, . Trade, Chinese Commerce, Thomson Locations: China, Russia, U.S, Beijing, Ukraine, United States, Asia, San Francisco, Washington, Zurich, Wang Wentao .

☆ China's rare earths dominance in focus after it limits germanium and gallium exports
▼ + stars: | 2023-07-05 | by ( Mai Nguyen | Thomson Reuters | Mai Reports On The Nonferrous Metals Markets In Asia. She Writes About Daily Price Movers | ) www.reuters.com time to read: +5 min

Exports: Chinese exports of rare earths have declined. Beijing then curbed global exports of rare earths, saying it was trying to curtail pollution and preserve resources. The chemical properties of rare earths make them difficult to separate from surrounding materials, and processing generates toxic waste. Western countries have ramped up support to boost domestic production of critical minerals including rare earths. Electric vehicle maker Tesla (TSLA.O) is moving away from rare earths in future models to mitigate environmental and supply risks, as the rare earth industry struggles to meet demand.

Persons: Lynas, Mai Nguyen, Melanie Burton, Dominique Patton, Tony Munroe, Barbara Lewis Organizations: United States Geological Survey, Adamas Intelligence, United, RARE, European Union, World Trade Organization, Thomson Locations: China, Japan, Beijing, CHINA, United States, Australia, Myanmar, Thailand, Vietnam, Russia, Brazil, India, Canada, Las Vegas, California, Hanoi, Melbourne

☆ What are Gallium and Germanium and which countries are producers?
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +5 min

Germanium ores are rare and most germanium is a by-product of zinc production and from coal fly ash. Gallium is found in trace amounts in zinc ores and in bauxite, and gallium metal is produced when processing bauxite to make aluminium. U.S. imports of gallium metal and gallium arsenide (GaAs) wafers in 2022 were worth about $3 million and $200 million, respectively, according to USGS. U.S.-based Indium Corporation also produces germanium, while Belgium's Umicore (UMI.BR) makes both germanium and gallium. "Zinc selenide and germanium glass substitute for germanium metal in infrared applications systems, but often at the expense of performance."

Persons: Belgium's, Eikon, Dominique Patton, Mai Nguyen, Melanie Burton, Pratima Desai, Tom Hogue, Himani Sarkar, Catherine Evans, David Evans Organizations: Alliance, . Geological Survey, WHO, Teck Resources, Shanghai Metal Exchange, Thomson Locations: China, Canada, Finland, Russia, United States, Europe, Japan, U.S, South Korea, Germany, Kazakhstan, Teck, North America, British Columbia, Beijing

☆ Which countries produce strategic materials Gallium and Germanium?
▼ + stars: | 2023-07-04 | by ( ) www.reuters.com time to read: +4 min

Germanium ores are rare and most germanium is produced as a by-product of zinc production and from coal fly ash. China produces around 60% of the world's germanium, according to the European association Critical Raw Materials Alliance (CRMA), with the rest coming from Canada, Finland, Russia and the United States. Gallium is found in trace amounts in zinc ores and in bauxite, and gallium metal is produced when processing bauxite to make aluminium. U.S. imports of gallium metal and gallium arsenide (GaAs) wafers in 2022 were worth about $3 million and $200 million, respectively, according to USGS. U.S.-based Indium Corporation also produces germanium, while Belgium's Umicore (UMI.BR) makes both germanium and gallium.

Persons: Belgium's, Eikon, Dominique Patton, Mai Nguyen, Melanie Burton, Tom Hogue, Himani Organizations: Alliance, WHO, United States Geological Survey, Teck Resources, Shanghai Metal Exchange, Thomson Locations: China, Canada, Finland, Russia, United States, Europe, Japan, U.S, South Korea, Germany, Kazakhstan, Teck, North America, British Columbia, Beijing

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. The buyers were anticipating it could take as long as two months to obtain export permits. Jefferies analysts said they saw the export controls as China's second and bigger countermeasure after the Micron ban. "If this action doesn't change the U.S.-China dynamics, more rare earth export controls should be expected."

Persons: Peter Arkell, Jeffries, Janet Yellen, Arkell, Caixin, Morris Young, Roy Lee, Amy Lv, Brenda Goh, Siyi Liu, Kentaro Sugiyama, Joyce Lee, Ben Blanchard, Melanie Burton, Tom Hogue Organizations: China, Companies, Global Mining Association of China, U.S, AXT Inc, Micron, Jefferies, ., Thomson Locations: China, Beijing BEIJING, SHANGHAI, United States, Washington, Beijing, Japan, Germany, Netherlands, France, Europe, Taiwan, South Korea, Yunnan, Shanghai, Tokyo, Seoul, Taipei, Melbourne

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