As trade tensions between the United States and China escalate, the price of the rare metal bismuth has reached its highest level in 10 years.
Bloomberg News reported on the 17th (local time), citing data from commodity market information firm Fastmarkets, that the price of bismuth surged 38% to $8.25 per pound following China's export restrictions announced on the 4th.
Bismuth is a little-known rare earth metal used in the defense industry. It is also used in automotive coatings and paints, low-temperature alloys, and casting.
After U.S. President Donald Trump recently imposed an additional 10% tariff on Chinese imports, China retaliated with counter-tariffs and imposed export controls on five metals including bismuth, tellurium, molybdenum, indium, and tungsten. Chinese companies must obtain government approval to export bismuth.
China has previously imposed export restrictions on essential metals such as germanium, gallium, and antimony.
China is a major supplier, accounting for 80% of the world's bismuth production. In recent years, the U.S. has sourced about two-thirds of its bismuth imports from China. Chen Qiqi, a researcher at Mistil Global, said, "Since exporters need time to apply for and receive permits, China's bismuth exports will be suspended for the time being," adding, "Traders are stockpiling bismuth in anticipation of further price increases."
According to Asian Metal, a commodity market information firm in the Asia region, the price of bismuth ingots also rose 7% after China's export restrictions, reaching 88,000 yuan (approximately 17.47 million won) per ton.
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