2 December 2025

November rally: gallium, lithium and strategic stockpiling

Key insights from this briefing

Why is gallium considered a high-speed technology enabler?

Gallium compounds such as gallium arsenide and gallium nitride can operate at higher voltages, temperatures and switching speeds than conventional silicon in selected applications. This makes them important in 5G networks, AESA radar, satellite communications and increasingly high-performance power electronics.

What drove the broad critical-minerals rally in November 2025?

The briefing linked the rally to renewed expectations for battery and high-technology demand, government support for strategic supply chains and greater stockpiling. Lithium and gallium recorded particularly strong gains, while NdPr, hafnium and scandium also strengthened.

Excerpt from this briefing's Industry Insight

Gallium is increasingly a strategic enabler of high-frequency and high-power technologies. Its compound semiconductors, particularly gallium arsenide and gallium nitride, can outperform silicon in demanding applications such as 5G, radar, satellites and power electronics. The supply side is far less diversified: most primary output is recovered as a by-product and production is heavily concentrated in China. As export controls and stockpiling increase, this combination of specialised demand and constrained supply can produce abrupt price moves and substantial regional premiums.

This is an excerpt from the Industry Insight in the full Market Briefing. Log in to access the complete briefing.