{"id":3688,"date":"2023-10-20T13:10:23","date_gmt":"2023-10-20T13:10:23","guid":{"rendered":"https:\/\/infundpros.com\/business\/china-restricts-exports-of-graphite-as-it-escalates-a-global-tech-war\/"},"modified":"2023-10-20T13:10:24","modified_gmt":"2023-10-20T13:10:24","slug":"china-restricts-exports-of-graphite-as-it-escalates-a-global-tech-war","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=3688","title":{"rendered":"China restricts exports of graphite as it escalates a global tech war"},"content":{"rendered":"
\n

\n Editor\u2019s Note: <\/b>Sign up for CNN\u2019s Meanwhile in China newsletter which explores what you need to know about the country\u2019s rise and how it impacts the world.\n<\/p>\n<\/p>\n

\n China has unveiled plans to restrict exports of graphite \u2014 a mineral crucial to the manufacture of batteries for electric vehicles (EVs) \u2014 on national security grounds, the Ministry of Commerce and the General Administration of Customs said Friday.\n <\/p>\n

\n The announcement comes just days after the United States imposed additional limits on the kinds of semiconductors that American companies can sell to Chinese firms.\n <\/p>\n

\n \u201cAt the moment both China and Western countries are engaged in a tit for tat, highlighting how protectionist measures often spread. Newton\u2019s third law that every action causes a reaction applies here, too,\u201d said Stefan Legge, head of tax and trade policy research <\/strong>at the University of St Gallen in Switzerland.\n <\/p>\n

\n \u201cAt the same time, both sides of the dispute also realize how costly it is if geopolitics trumps economics,\u201d he added.\n <\/p>\n

\n China, which dominates the world\u2019s production and processing of graphite, says export permits will be needed, starting in December, for synthetic graphite material \u2014 including high-purity, high-strength and high-density versions \u2014 as well as for natural flake graphite.\n <\/p>\n

\n The Institute for Energy Research, a Washington, DC-based research organization, says carmakers are trying to lock in supplies of graphite from sources outside of China, as demand for EV batteries outpaces other uses for the material.\n <\/p>\n

\n Global sales of EVs, including purely battery-powered vehicles and hybrids, are soaring, according to the International Energy Agency.\n <\/p>\n

\n Sales exceeded 10 million units last year, up 55% from 2021, and are expected to rise to nearly 14 million vehicles this year, it projected.\n <\/p>\n

\n According to the US Geological Survey, the market for graphite used in batteries has grown 250% globally since 2018. China was the world\u2019s leading graphite producer last year, accounting for an estimated 65% of global production, it said.\n <\/p>\n

\n Besides EVs, graphite is commonly used in the semiconductor, aerospace, chemical and steel industries.\n <\/p>\n

\n The export curbs were announced as China faces pressure from multiple governments over its commercial and trade practices. <\/strong>For more than a year, it has been embroiled in a tech war with the United States and its allies in Europe and Asia over access to advanced chips and chipmaking equipment.\n <\/p>\n

\n In July, Beijing imposed export restrictions on gallium and germanium, two minerals essential for making semiconductors. One month later, its overseas shipments of the materials fell to zero.\n <\/p>\n

\n Ivan Lam, a senior analyst at Counterpoint Research, said China had previously imposed temporary export controls on graphite, with little industry impact, adding that the new rules were not a \u201ccomplete ban.\u201d Still, he predicts prices will go up.\n <\/p>\n

\n \u201cWe believe that the average price of graphite will continue to rise in the future due to supply and demand imbalances, including Russia, which was one of the major graphite suppliers before the Russia-Ukraine war,\u201d he said.\n <\/p>\n

\n China has a massive hold on the worldwide supply chain of critical minerals needed to make EV batteries. It refines 60% of the world\u2019s lithium and 80% of the cobalt, according to the US Department of Energy.\n <\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Editor\u2019s Note: Sign up for CNN\u2019s Meanwhile in China newsletter which explores what you need to know about the country\u2019s rise and…<\/p>\n","protected":false},"author":1,"featured_media":3689,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-3688","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"\nChina restricts exports of graphite as it escalates a global tech war | inFundPros<\/title>\n<meta name=\"description\" content=\"Editor\u2019s Note: Sign up for CNN\u2019s Meanwhile in China newsletter which explores what you need to know about the country\u2019s rise and how it impacts the world.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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