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 | $307.5 | +0.11% | +9.8% | +27.8% | −1.5% | |
| LIN Linde |
Industrial and electronic gases | US | $509.4 | +0.12% | +8.4% | +20.6% | −6.5% | |
| AI.PA Air Liquide |
Electronics specialty gases | France | €175.4 | +0.39% | +4.7% | +22.9% | −2.7% | |
| 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 | $79.09 | +1.59% | −6.9% | +36.5% | −18.1% | |
| SCCO Southern Copper |
Large copper reserves | US/Peru | $187.1 | +1.12% | −8.2% | +36.5% | −14.8% | |
| TECK Teck Resources |
Copper growth projects | Canada | $60.34 | +2.18% | −8.6% | +26.6% | −16.1% | |
| FCX Freeport-McMoRan |
Large copper producer | US | $65.21 | +0.04% | −9.6% | +29.6% | −18.2% | |
| 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 | $57.51 | +0.65% | −14.0% | −13.8% | −38.1% | |
| ALB Albemarle |
Largest lithium producer outside China | US | $94.27 | +0.64% | −14.1% | −32.8% | −56.0% | |
| 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 | 3,174.0p | +4.13% | −14.9% | −3.2% | −28.7% | |
| UMI.BR Umicore |
Germanium and specialty materials | Belgium | €17.66 | +2.56% | −17.5% | +1.2% | −33.4% | |
| 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 | $37.91 | −1.03% | −22.4% | −25.0% | −47.8% | |
| IVN.TO Ivanhoe Mines |
High-grade Kamoa-Kakula copper | Canada/DRC | C$9.22 | +0.71% | −22.8% | −40.9% | −51.0% | |
| NEO.TO Neo Performance Materials |
Magnet plant in Estonia | Canada | C$24.80 | +1.81% | −23.4% | +61.0% | −43.9% | |
| PLS.AX Pilbara Minerals |
Hard-rock lithium | Australia | A$2.84 | +8.40% | −26.0% | −32.1% | −57.5% | |
| LAC Lithium Americas |
Thacker Pass lithium project | US | $2.02 | −2.17% | −26.4% | −53.6% | −69.9% | |
| AXTI AXT Inc |
InP and GaAs substrates | US/China | $57.20 | +9.83% | −27.5% | +249.8% | −59.4% | |
| PPTA Perpetua Resources |
Domestic antimony project | US | $16.86 | +2.52% | −28.2% | −30.4% | −54.7% | |
| UAMY United States Antimony |
US antimony processing | US | $2.95 | −3.59% | −34.4% | −41.2% | −76.6% | |
| USAR USA Rare Earth |
US magnet manufacturing | US | $9.16 | −1.77% | −39.6% | −23.0% | −70.2% |