China’s decision to ban the export of antimony, a critical mineral used in semiconductors and military applications, has sent prices soaring to historic highs. As the world’s largest producer of antimony, China’s move has created a global supply shortage, driving prices up by nearly 250% in 2024 alone.
The mineral, essential for flame retardants, batteries, and military equipment, now costs between $39,500 and $40,000 per metric ton—a dramatic increase that reflects the global scramble for alternative suppliers. Traders predict prices could rise even further as demand outstrips supply.
The U.S. and other countries have started exploring alternative sources in Southeast Asia and Africa, but replacing China’s dominance in the market will take time. Analysts believe the situation highlights the risks of over-reliance on a single supplier for critical raw materials.
China’s strategy to consolidate its mineral production domestically could expand to other metals, including bismuth and manganese, causing further uncertainty in global supply chains.
