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 | $316.4 | +1.50% | +15.8% | +31.5% | 0.0% | |
| LIN Linde |
Industrial and electronic gases | US | $514.2 | +2.20% | +9.5% | +21.8% | −5.6% | |
| AI.PA Air Liquide |
Electronics specialty gases | France | €180.9 | +1.98% | +8.7% | +26.8% | 0.0% | |
| ILU.AX Iluka Resources |
Rare-earth refinery under construction | Australia | A$5.80 | −1.69% | +1.2% | +1.1% | −31.9% | |
| 4091.T Nippon Sanso |
Industrial gases for Asian fabs | Japan | ¥5,506.0 | −0.51% | −0.1% | +19.3% | −13.5% | |
| LYC.AX Lynas Rare Earths |
Largest non-China rare-earth separator | Australia | A$12.10 | −7.14% | −4.3% | −2.7% | −45.2% | |
| BHP BHP Group |
Largest copper miner by resources | Australia | $79.16 | −3.25% | −6.5% | +36.6% | −18.0% | |
| TECK Teck Resources |
Copper growth projects | Canada | $60.61 | −4.88% | −7.1% | +27.1% | −15.7% | |
| 600111.SS China Northern Rare Earth |
Largest light rare-earth producer | China | ¥34.21 | −3.06% | −8.6% | −25.6% | −45.0% | |
| FCX Freeport-McMoRan |
Large copper producer | US | $62.47 | −5.55% | −9.6% | +24.1% | −21.7% | |
| SCCO Southern Copper |
Large copper reserves | US/Peru | $177.5 | −7.42% | −10.9% | +29.5% | −19.2% | |
| ALB Albemarle |
Largest lithium producer outside China | US | $91.00 | −2.43% | −13.4% | −35.1% | −57.5% | |
| MP MP Materials |
US rare-earth mine and magnet plant | US | $39.57 | −4.97% | −14.2% | −21.7% | −45.5% | |
| UMI.BR Umicore |
Germanium and specialty materials | Belgium | €17.62 | −5.12% | −14.3% | +1.0% | −33.5% | |
| SQM SQM |
Lithium brine producer | Chile | $54.65 | −3.05% | −14.8% | −18.1% | −41.1% | |
| ANTO.L Antofagasta |
Chilean copper producer | Chile | 3,126.0p | −4.52% | −15.3% | −4.7% | −29.8% | |
| 5713.T Sumitomo Metal Mining |
Battery materials and refining | Japan | ¥8,131.0 | −4.61% | −18.0% | +31.6% | −35.9% | |
| PPTA Perpetua Resources |
Domestic antimony project | US | $16.65 | −7.81% | −20.4% | −31.2% | −55.3% | |
| LAC Lithium Americas |
Thacker Pass lithium project | US | $2.03 | −4.69% | −21.0% | −53.4% | −68.5% | |
| NEO.TO Neo Performance Materials |
Magnet plant in Estonia | Canada | C$24.53 | −5.36% | −22.4% | +59.3% | −44.5% | |
| IVN.TO Ivanhoe Mines |
High-grade Kamoa-Kakula copper | Canada/DRC | C$9.04 | −3.93% | −22.7% | −42.1% | −51.9% | |
| PLS.AX Pilbara Minerals |
Hard-rock lithium | Australia | A$2.64 | −4.00% | −27.7% | −36.9% | −60.5% | |
| UAMY United States Antimony |
US antimony processing | US | $2.98 | −5.70% | −27.9% | −40.6% | −76.4% | |
| USAR USA Rare Earth |
US magnet manufacturing | US | $9.62 | −8.56% | −30.3% | −19.2% | −68.7% | |
| AXTI AXT Inc |
InP and GaAs substrates | US/China | $55.06 | −9.56% | −32.7% | +236.8% | −60.9% |