China's selective export moves
Reports say Beijing has signalled tactical restraint on rare‑earth export controls while planning to halt sulfuric‑acid exports next month, a mix of signals that has already pushed aluminium prices higher. The combination — a reported suspension of rare‑earth curbs and sulfuric‑acid restrictions tied to industrial chemicals — is prompting concern about downstream supplies for metals and semiconductor materials ( ).
China is easing on one strategic export and tightening on another, keeping rare-earth shipments flowing while moving to stop sulfuric-acid exports from May 1. (english.scio.gov.cn, news.chemnet.com) On April 10, China’s Ministry of Commerce said export applications for rare earths that meet regulatory requirements, including “genuine civilian use,” will be approved. The same briefing said export-control measures announced in October 2025 are suspended until November 10, 2026, after China-United States trade talks in Kuala Lumpur. (english.scio.gov.cn) Rare earths are a group of metals used in magnets, motors, and electronics. China imposed controls on some medium and heavy rare-earth items in April 2025, then later suspended the October 2025 measures now set to stay paused through November 10, 2026. (english.mofcom.gov.cn, english.scio.gov.cn) Sulfuric acid is a basic industrial chemical used in fertilizer, metal processing, and some semiconductor chemicals. ChemNet, citing Bloomberg and domestic sources, reported China will comprehensively restrict exports of smelter by-product sulfuric acid from May 1, with electronic-grade sulfuric acid among the narrow exemptions. (news.chemnet.com, bloomberg.com) China’s sulfuric-acid move lands in a market already strained by Middle East disruption. ChemNet said the Middle East supplies about one-third of global sulfur and roughly half of seaborne sulfur trade leaves the Gulf region, while Russia has extended its sulfur export ban through June 2026. (news.chemnet.com) The price response has been immediate across linked markets. CRU said delivered sulfuric-acid prices into Chile climbed from $175 a ton in late December 2025 to $270 a ton by mid-April 2026, while aluminum prices were up more than 5% over the past month as of April 14. (crugroup.com, tradingeconomics.com) The split signal reflects how Beijing is targeting pressure points differently. On rare earths, officials are stressing supply-chain stability and continued licensing; on sulfuric acid, reported curbs would keep more material at home for fertilizer and metals production. (english.scio.gov.cn, southchina morningpost.com, news.chemnet.com) That matters for buyers far beyond chemicals traders. Seoul Economic Daily reported in March that Korea Zinc is expanding ultra-high-purity sulfuric-acid capacity used to clean semiconductor wafers, underscoring how a commodity chemical can become a chip-supply issue when trade and shipping tighten. (en.sedaily.com) China is the world’s largest producer and supplier of sulfuric acid, accounting for more than 40% of global output, according to ChemNet. If the May restriction takes effect as reported, importers will spend the next two weeks testing how much “stability” Beijing intends to offer, and in which materials. (news.chemnet.com)
