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 |
|---|---|---|---|---|---|---|---|---|
| APD Air Products |
Fab gases and on-site plants | US | $307.6 | +0.14% | +9.9% | +27.8% | −1.5% | |
| LIN Linde |
Industrial and electronic gases | US | $510.1 | +0.26% | +8.6% | +20.8% | −6.4% | |
| AI.PA Air Liquide |
Electronics specialty gases | France | €175.1 | +0.26% | +4.6% | +22.8% | −2.9% | |
| 600111.SS China Northern Rare Earth |
Largest light rare-earth producer | China | ¥36.29 | −0.66% | −1.2% | −21.1% | −41.7% | |
| 4091.T Nippon Sanso |
Industrial gases for Asian fabs | Japan | ¥5,399.0 | −0.48% | −2.5% | +17.0% | −15.2% | |
| BHP BHP Group |
Largest copper miner by resources | Australia | $78.78 | +1.20% | −7.3% | +36.0% | −18.4% | |
| SCCO Southern Copper |
Large copper reserves | US/Peru | $187.0 | +1.06% | −8.3% | +36.4% | −14.9% | |
| TECK Teck Resources |
Copper growth projects | Canada | $60.34 | +2.18% | −8.7% | +26.6% | −16.1% | |
| FCX Freeport-McMoRan |
Large copper producer | US | $64.96 | −0.34% | −10.0% | +29.1% | −18.5% | |
| ILU.AX Iluka Resources |
Rare-earth refinery under construction | Australia | A$5.07 | +2.22% | −13.6% | −11.7% | −40.5% | |
| SQM SQM |
Lithium brine producer | Chile | $57.60 | +0.81% | −13.9% | −13.7% | −38.0% | |
| ALB Albemarle |
Largest lithium producer outside China | US | $94.48 | +0.86% | −13.9% | −32.6% | −55.9% | |
| 5713.T Sumitomo Metal Mining |
Battery materials and refining | Japan | ¥8,077.0 | +0.95% | −14.4% | +30.7% | −36.3% | |
| ANTO.L Antofagasta |
Chilean copper producer | Chile | 3,171.0p | +4.04% | −15.0% | −3.3% | −28.8% | |
| UMI.BR Umicore |
Germanium and specialty materials | Belgium | €17.57 | +2.03% | −17.9% | +0.7% | −33.7% | |
| LYC.AX Lynas Rare Earths |
Largest non-China rare-earth separator | Australia | A$11.27 | +5.23% | −20.8% | −9.4% | −48.9% | |
| MP MP Materials |
US rare-earth mine and magnet plant | US | $37.87 | −1.12% | −22.4% | −25.0% | −47.9% | |
| IVN.TO Ivanhoe Mines |
High-grade Kamoa-Kakula copper | Canada/DRC | C$9.25 | +0.98% | −22.6% | −40.7% | −50.8% | |
| NEO.TO Neo Performance Materials |
Magnet plant in Estonia | Canada | C$24.83 | +1.93% | −23.3% | +61.2% | −43.8% | |
| LAC Lithium Americas |
Thacker Pass lithium project | US | $2.04 | −1.69% | −26.0% | −53.3% | −69.7% | |
| PLS.AX Pilbara Minerals |
Hard-rock lithium | Australia | A$2.84 | +8.40% | −26.0% | −32.1% | −57.5% | |
| PPTA Perpetua Resources |
Domestic antimony project | US | $16.80 | +2.19% | −28.5% | −30.6% | −54.9% | |
| AXTI AXT Inc |
InP and GaAs substrates | US/China | $55.82 | +7.18% | −29.3% | +241.4% | −60.4% | |
| UAMY United States Antimony |
US antimony processing | US | $2.97 | −2.94% | −34.0% | −40.8% | −76.5% | |
| USAR USA Rare Earth |
US magnet manufacturing | US | $9.12 | −2.30% | −40.0% | −23.4% | −70.3% |