Minor Metals Trading Strategies Adapt to Global Supply Shifts

How China’s Export Controls Impact Minor Metals Trading

Traders face rising challenges as China enforces export controls on gallium, bismuth, and germanium. These regulations now require disclosure of final end users, preventing traders from holding unassigned stock. As a result, legacy trading models are under pressure, pushing companies to rethink sourcing and market strategies.

Many market participants are shifting focus from pure trading toward downstream chemicals and compounds. This approach helps them manage risk while meeting demand in sectors such as aerospace and defense. Companies that once dominated minor metals trading are now exploring specialized niches to maintain relevance.

Rhenium and Gallium: Focus Materials in the New Market

Rhenium has become a central focus for traders like Lipmann Walton, which maintains consistent service even during quiet market periods. Rhenium’s role in high-performance aerospace superalloys has driven prices up, reflecting both strong demand and geopolitical uncertainty. Fastmarkets recently reported rhenium pellets at $1,349–$1,479 per lb, a 61% increase from January 2025.

Similarly, traders such as Tradium and Wogen capitalize on gallium and antimony opportunities outside China. By expanding sourcing options and taking calculated risks, they redefine traditional trading models. These strategies allow traders to benefit from reduced liquidity and regional supply gaps while supporting customer needs.

Market Opportunities Beyond Metals

Bismuth oxide is another emerging focus as export controls shift demand away from pure metals. European prices for bismuth oxide remain significantly lower than bismuth metal, creating a market for substitution. Larger companies like Teck, Rio Tinto, and Alcoa are increasingly engaging with minor metals, partnering with traders or refining base metals to produce gallium and other controlled metals.

SuperMetalPrice Commentary:

Minor metals trading is entering a transformative period. Traders that embrace calculated risks, diversify sourcing, and focus on niche materials like rhenium, gallium, and bismuth oxide will outperform peers. This realignment favors market participants who combine technical knowledge with long-term customer service. Geopolitical tensions and regulatory changes ensure that agile, informed trading houses will remain essential in 2025 and beyond.