BREAKING NEWS
China restricts exports of graphite as it escalates a critical mineral race for energy
China just announced the introduction of export permits for graphite as of December 1st to regulate critical mineral supplies and protect national interests.
- China has announced plans to restrict exports of graphite.
- The decision comes shortly after the US imposed additional limits on semiconductors sold to Chinese companies.
- Battery and car manufacturers are seeking sources outside of China to meet soaring demand, with global EV sales increase of 55% last year and expected rise to nearly 14 million vehicles this year.
China currently controls 65% of the graphite extraction global production, and 100% of spherical graphite refining for lithium-ion batteries.
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