China plans to restrict exports of a critical metal. But the market isn’t that worried
2024-11-27 09:03:16 source：CNBC
November 27, 2024
BEIJING — China will start limiting exports of critical metal tungsten this weekend, just as alternatives to Chinese suppliers of the metal are reopening.
It’s a reversal of past decades, during which, according to analysts, Chinese businesses poured cheap tungsten into the global market to put competitors out of business — eventually controlling 80% of the supply chain, according to Argus. Tungsten is an extremely hard metal used in weapons and semiconductors.
As part of new rules limiting exports of “dual use” goods — which can be used for military or civilian purposes — China’s Ministry of Commerce earlier this month released a list indicating that businesses wanting to export a range of tungsten and critical mineral products would need to apply for licenses. The latest measures will take effect Dec. 1.
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