Events · who it helps and who it hurts

China rare-earth / gallium / germanium export controls

China restricts exports of rare earths or other critical materials.

Not on our calendar

The reads below are for when China tightens export controls. Expect the opposite when China eases export controls.

Sectors

Basic MaterialsUsually helpsMiners outside China become the only other source.

Consumer CyclicalUsually hurtsElectric-car motors need rare-earth magnets.

IndustrialsUsually hurtsMagnets and defense parts need these materials.

TechnologyUsually hurtsSome chips need gallium and germanium.

Communication ServicesLittle effectLittle direct link.

Consumer DefensiveLittle effectLittle direct link.

EnergyLittle effectLittle direct link.

Financial ServicesLittle effectLittle direct link.

HealthcareLittle effectLittle direct link.

Real EstateLittle effectLittle direct link.

UtilitiesLittle effectLittle direct link.

Where each sector’s relative strength sits this week is on the rotation board.

Other Industrial Metals & MiningUsually helpsRare-earth miners outside China become scarce and valuable.

Auto ManufacturersUsually hurtsElectric-car motors need rare-earth magnets.