Measures needed to protect 'national interest,' says Beijing. Rubbish, it's retaliation, scoff critics
The price of gallium is said to have hit a 10-month high following export restrictions from China, which kicked in at the beginning of August in response to Western sanctions on sales of advanced technology to the country.back in early July that it was imposing export controls on gallium and germanium, plus many compounds containing these metals that are used in semiconductors and other electronic components.
The price of gallium in particular has risen by more than 50 percent since Beijing announced the restrictions, hitting $400 per kilogram on August 9, the highest since mid-October last year, according toHowever, exporters were only able to file an application for a license from August 1, the same date the restrictions came into effect, Reuters reported, citing four traders as sources.
It is understood that it may take up to 45 days for licenses to be issued once an application is received by the Ministry of Commerce, meaning there could be a stall in the international supply pipeline while traders await permission to resume shipments.
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