Critical Minerals theme.
Critical minerals have become a geopolitical flashpoint. The US, EU, and allies have published critical minerals lists, passed supply chain legislation, and are funding domestic processing capacity. China dominates supply chains for rare earths, tungsten, antimony, magnesium, and graphite. The Defense Production Act, EU Critical Raw Materials Act, and allied friend-shoring policies are reshaping these supply chains. Prices for many critical minerals spiked after China imposed export controls in 2024-2025.
Critical Minerals commodities
NdFeB magnets power every EV motor and wind turbine. China processes 90%.
Rare Earths hub →Hardest metal. Cutting tools, munitions, and electronics. China exports just cut off.
Tungsten hub →Grid-scale redox flow batteries. China, Russia, South Africa dominate supply.
Vanadium hub →Flame retardants and lead-acid battery plates. China just banned exports.
Antimony hub →Makes steel 30x stronger with tiny additions. Brazil has 90% of it.
Niobium hub →Aerospace-grade strength at half the weight of steel. Aerospace and medical implants.
Titanium hub →Lightest structural metal. China makes 85% of it.
Magnesium hub →Alloyed into high-strength steel and superalloys. US critical mineral.
Molybdenum hub →