In a move of significant importance for the global critical metals market, Fastmarkets has begun publishing new reference prices for gallium (Gallium 99.99%, DDP US), bismuth (Bismuth 99.99%, DDP US), and indium (Indium 99.99%, DDP US), reflecting the profound changes occurring in the supply chains of strategic raw materials. The decision by Fastmarkets comes at a time when the United States is accelerating efforts to decouple from foreign supply sources of critical metals, bolstering domestic production and processing of raw materials deemed vital for technology, defense, and the semiconductor industry. According to Fastmarkets, the publication of the new pricing indices in the US was deemed necessary due to shifting market conditions, taking into account new tariffs, export restrictions on critical metals, and increased state funding channeled by the American government aimed at developing domestic supply chains.
Gallium in the spotlight
Of particular interest is the trajectory of gallium, a metal considered pivotal for the production of next-generation semiconductors, telecommunication systems, photovoltaic applications, and advanced defense technologies. Market sources reported that recent prices are currently:
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At $2,300 - $2,500 per kilogram for DDP deliveries in the United States.
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At $2,250 - $2,925 per kilogram for material available in Rotterdam warehouses. Indeed, according to market participants, the top end of the price range increased significantly following a transaction that took place last Friday at the level of $2,925 per kilogram. As noted: "We are currently seeing prices of $2,300-$2,500 per kilogram for the US market and $2,250-$2,925 per kilogram for stocks in Rotterdam.
On Friday, June 19, 2026, a deal was recorded at $2,925 per kilogram for the Japanese electronics and semiconductor industry, which pushed the upper limit of the market higher." This specific transaction confirms the ongoing strong demand from the electronics and semiconductor sector, which is the largest consumer of gallium globally.
Export restrictions are changing the market
The gallium market has been under intense pressure in recent years due to export restrictions imposed by China, which controls most of the world's production and processing of the metal. These restrictions have led to a redistribution of trade flows, increased procurement costs, and fiercer competition between the US, Europe, and Asia to secure sufficient quantities of strategic raw materials. At the same time, large investment programs being implemented in the US to develop domestic production of semiconductors, data centers, artificial intelligence, and defense applications are creating additional demand for gallium, indium, and bismuth.
Strategic importance for technology and defense
Market analysts estimate that Fastmarkets' decision to create separate price indices for the American market is yet another indication that critical metals are acquiring increasingly greater strategic importance. Pricing based on the actual conditions of the US market is considered necessary, as price differentials between America, Europe, and Asia are widening due to geopolitical tensions, trade restrictions, and government interventions.
Metlen’s strategic move into gallium gains new value
The explosive rise in gallium prices and the effort by the US and Europe to reduce their dependence on China highlight the strategic importance of the investment Metlen is implementing in this specific sector. Metlen has already announced the development of a production unit for the recovery and production of gallium at its facilities in Greece, aiming to become one of the key European suppliers of a metal considered critical for semiconductors, telecommunications systems, data centers, the defense industry, and artificial intelligence applications. The timing is proving particularly favorable. The restrictions China has imposed on gallium exports, combined with the policies of strategic autonomy being applied by the US and the European Union, are creating a new environment of increased demand and higher prices for Western producers. It should be noted that in February, Metlen’s executive chairman, Evangelos Mytilineos, announced the production of the first standardized 500-gram package of gallium. The commencement of production activity is scheduled for 2027, while by 2028, production is expected to increase to 50 tons per year.
Gallium and critical metals are "key"
It is no coincidence that in a recent note from Bank of America regarding Metlen, for which it gives a price target of 52 euros per share, analysts praised the group’s move into critical metals. Particular weight is given to gallium, which is considered a strategic metal for the European high-tech industry. Metlen is already in the industrial development phase of gallium production at its alumina facilities, with the goal of reaching a production capacity of 50 tons per year by the end of 2027. BofA estimates that the prospects for this specific activity are better than initial forecasts, as the metal’s current prices are moving higher, creating upside margins for an estimated annual contribution of approximately 40 million euros.
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