Green Resources is showing strength. It is interpreted to be influenced by news that China is set to impose export controls on antimony, a semi-metal used as a battery raw material.
As of 10:20 AM on the 16th, Green Resources is trading at 18,750 KRW, up 3.08% compared to the previous day.
The day before, China's Ministry of Commerce and General Administration of Customs announced, "In accordance with the Export Control Law, Foreign Trade Law, Customs Law, and other related regulations, we will control exports of antimony and superhard materials to protect national security and interests and fulfill international obligations such as nuclear non-proliferation." China is the world's largest holder and producer of antimony.
Previously, since August last year, China restricted exports of gallium and germanium, metals used in semiconductor and electronic product manufacturing, and from December of the same year, added graphite, including spherical graphite, a core raw material for secondary batteries, to the list of export-controlled items.
Antimony is mainly used as a flame retardant component that prevents the spread of fire and is widely used in batteries, night vision devices, nuclear weapon production, solar photovoltaic cells, communications, petrochemicals, and automobile manufacturing. It was also included when the government designated 33 key minerals requiring management last year.
Meanwhile, Green Resources is the largest domestic and international supplier of advanced new materials, exporting not only within Korea but also to global markets such as the Americas, Europe, Japan, and India. The company also supplies rare metals such as rare earth elements, molybdenum, nickel, and antimony.
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