The profound influence of China on the global antimony market has taken a new turn recently, with Beijing instituting stringent controls on the exportation of antimony, a minor yet highly strategic mineral. These recent controls were announced in October, indicating a further validation of China’s commanding role in the world of strategic minerals.
Antimony is widely recognized for its prevalent use in flame retardants, plus its applications in batteries, ceramics, semiconductors, and other industrial materials. It is particularly important in the production of batteries for electric vehicles (EVs) that have gained immense popularity, especially in a time where renewable energies are privileged.
After considering multiple years of unrestrained extraction that culminated in depleted reserves, China pivoted towards tight export controls. This decision will give the state better leverage over the industry, dictating the terms of the antimony exports to global markets. It affirms China’s commitment to control their internal resources while preserving their standing within the global context. It gives Beijing a significant advantage in dictating terms, ensuring it has valuable say in dictating industry trends while acting as a safeguard for domestic reserves.
The Global Trade Alert database suggests that these export controls are not exclusive to antimony. Since 2015, the country has established approximately 215 such measures relating to various industries. This ongoing pattern hints at China’s future projections and tactics in managing its critical resources.
China’s perseverance in imposing restrictive export measures can be linked to its broader agenda concerning minor yet strategic minerals. Specifically, the advent of EVs has spurred a global surge in demand for these minerals, amplifying the need for a more concerted effort by Beijing. They are meticulous in managing resources pivotal to this next-generation technology.
In 2020, the Chinese government officially labelled antimony as a strategic mineral. This declaration marked a significant episode in China’s strategy over resource control. For antimony, the policy went from a simple export quota system to the strategic commodity list, indicating the country’s heightened emphasis on its importance.
These recent export controls have drawn mixed reactions, evoking a sense of apprehension among other global market players. It has also highlighted the vulnerability of these markets that heavily rely on Chinese exports. Critics argue that these controls may lead to a severe concentration of global resources, causing concerns for other countries that do not have abundant reserves.
Conversely, this move by China is seen as an intelligent and strategic play by some industry experts. It leverages the country’s advantage over this minor but crucial mineral, further bolstering its dominant role in the market. This strategy aims to maximize China’s control over different industries, especially those that will shape the future of technology, such as EVs.
In essence, China’s heightened controls over antimony exports is a clear demonstration of the country’s long-term vision to capitalize on its sprawling reserves of strategic minerals. It reflects the country’s determination to ascertain its place in the global market while also protecting its reserves and maintaining a durable dominance over minor yet highly strategic minerals like antimony.