Copper, rare earths, gallium, gases
Copper, rare-earth magnets, gallium, germanium, antimony, uranium inputs and specialty gases sit under every other layer.
Which inputs are geographically concentrated enough to stop the build?
Materials index vs S&P 500
Equal-weight, rebased to 100 · 1Y5 bottlenecks in Materials
Sorted by tightness score. Click through for supply chain, dimension scores, names and falsifier.
Rare Earths & Magnets
China controls most rare-earth separation and magnet production and has used export licensing. Every motor, robot and drone depends on it.
Gallium, Germanium & Antimony
Small markets with outsized importance: gallium for GaN and InP, germanium for optics, antimony for defence. China has restricted exports.
Copper
Grids, transformers, data centres and EVs all draw on copper. New mines take a decade or more; grades are falling.
Specialty & Industrial Gases
Fabs need ultra-pure nitrogen, hydrogen, neon, helium and fluorine compounds on long contracts. Helium-3 for cryogenics is genuinely scarce.
Lithium, Graphite & Cathodes
After the price bust, supply exceeds demand. Non-China graphite and processing remain the strategic gap.
Every stock in Materials
Sorted by 1-month performance. Roles, not recommendations.
| Name | Role | Region | Last | 1D | 1M | YTD | Off high | Trend |
|---|---|---|---|---|---|---|---|---|
| ILU.AX Iluka Resources |
Rare-earth refinery under construction | Australia | A$6.24 | −2.65% | +16.2% | +8.7% | −26.7% | |
| LYC.AX Lynas Rare Earths |
Largest non-China rare-earth separator | Australia | A$13.34 | −4.17% | +15.3% | +7.2% | −39.6% | |
| AI.PA Air Liquide |
Electronics specialty gases | France | €192.8 | +0.35% | +13.2% | +35.2% | 0.0% | |
| 4091.T Nippon Sanso |
Industrial gases for Asian fabs | Japan | ¥6,090.0 | +1.30% | +10.5% | +32.0% | −4.3% | |
| APD Air Products |
Fab gases and on-site plants | US | $316.2 | +0.32% | +8.1% | +31.4% | −0.8% | |
| LIN Linde |
Industrial and electronic gases | US | $522.5 | −0.77% | +6.0% | +23.7% | −4.1% | |
| 600111.SS China Northern Rare Earth |
Largest light rare-earth producer | China | ¥36.62 | −0.57% | +5.0% | −20.4% | −41.1% | |
| UAMY United States Antimony |
US antimony processing | US | $2.91 | −6.73% | +4.3% | −42.0% | −76.9% | |
| PPTA Perpetua Resources |
Domestic antimony project | US | $17.82 | −5.91% | +2.5% | −26.4% | −52.1% | |
| ALB Albemarle |
Largest lithium producer outside China | US | $94.85 | −1.17% | −3.2% | −32.4% | −55.8% | |
| BHP BHP Group |
Largest copper miner by resources | Australia | $80.51 | −1.89% | −3.3% | +39.0% | −16.6% | |
| TECK Teck Resources |
Copper growth projects | Canada | $61.19 | −3.90% | −5.6% | +28.4% | −14.9% | |
| MP MP Materials |
US rare-earth mine and magnet plant | US | $37.45 | +1.96% | −6.3% | −25.9% | −48.5% | |
| ANTO.L Antofagasta |
Chilean copper producer | Chile | 3,217.0p | −2.78% | −9.9% | −1.9% | −27.8% | |
| PLS.AX Pilbara Minerals |
Hard-rock lithium | Australia | A$2.85 | −8.06% | −10.1% | −31.8% | −57.3% | |
| UMI.BR Umicore |
Germanium and specialty materials | Belgium | €18.64 | +0.49% | −10.6% | +6.8% | −29.7% | |
| SQM SQM |
Lithium brine producer | Chile | $53.89 | −1.55% | −12.6% | −19.3% | −42.0% | |
| FCX Freeport-McMoRan |
Large copper producer | US | $60.45 | −2.69% | −13.0% | +20.1% | −24.2% | |
| SCCO Southern Copper |
Large copper reserves | US/Peru | $168.2 | −2.55% | −15.3% | +23.9% | −22.7% | |
| LAC Lithium Americas |
Thacker Pass lithium project | US | $1.63 | −1.21% | −21.3% | −62.6% | −74.7% | |
| USAR USA Rare Earth |
US magnet manufacturing | US | $8.07 | −2.36% | −21.8% | −32.2% | −73.7% | |
| 5713.T Sumitomo Metal Mining |
Battery materials and refining | Japan | ¥7,367.0 | −1.14% | −22.9% | +19.2% | −41.9% | |
| IVN.TO Ivanhoe Mines |
High-grade Kamoa-Kakula copper | Canada/DRC | C$7.89 | −1.50% | −24.8% | −49.5% | −58.0% | |
| AXTI AXT Inc |
InP and GaAs substrates | US/China | $43.54 | −7.30% | −29.3% | +166.3% | −69.1% | |
| NEO.TO Neo Performance Materials |
Magnet plant in Estonia | Canada | C$25.51 | −3.48% | 0.0% | +65.7% | −42.3% |