Chinese small metal mining companies rally after authorities announce export ban on gallium, germanium
MARKET STOCKS
Chinese small metal mining companies rally after authorities announce export ban on gallium, germanium
MARKET STOCKS

Chinese small metal mining companies rally after authorities announce export ban on gallium, germanium

 

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Shares of Chinese small metal companies stage a strong rally after China announced export control on two major materials for production of semiconductors and other electronic components. Yunnan Lincang Xinyuan Germanium Industry is surging by the daily limit of 10%.

China will impose restriction on exports on gallium and germanium, two key materials used in the production of semiconductors and other electronic components, in a move to safeguard national security and interests, the Ministry of Commerce and the General Administration of Customs said on Monday.

Starting from August 1, gallium and germanium items meeting certain characteristics shall not be exported without approval. The ministries listed eight items related to gallium, and six items related to germanium.

Exporters must file an application with local commerce authorities for exports of such items and they must get approval form the Ministry of Commerce before exporting such items. Exporters would face fines and criminal charges if they export such items without permission.