Antimony rarely takes center stage – but the metalloid (symbol Sb) is increasingly moving into the focus of security, energy, and industry. Antimony is used in flame retardants for plastics and electronics, in alloys for ammunition and batteries, as well as in semiconductors, sensors, and grid-scale energy storage. Accordingly, the US Geological Survey classifies antimony as a “critical raw material.” With the tightening of global supply chain risks, the importance of a reliable supply grows – and with it, the political pressure to develop alternative sources.
Antimony: Applications, Strategic Value, and Market Mechanics
Antimony’s industrial footprint is broad: In electronics, it improves the flame retardancy of casings and circuit boards; in textiles, it protects against fire development; and in the defense sector, it increases hardness and temperature resistance through alloys. In high-temperature electronics, sensor technology, and large-scale storage systems, antimony contributes to stability and performance. Substitutes are limited in many applications, which is why supply bottlenecks can directly impact production chains – from electronic devices to armaments manufacturing. Industry representatives therefore speak of a raw material that “nobody talks about – until it’s missing.”
China Dominates Antimony – Export Controls Exacerbate the Situation
On the supply side, China continues to hold a prominent position. In 2024, approximately 60% of global antimony production came from the country; additionally, Beijing controls large parts of the downstream processing – from smelting to refining steps. At the same time, stricter environmental regulations, declining ore grades, and more intensive controls are impacting domestic production. Since September 15, 2024, antimony ores, metal, oxide, and smelting/separation technologies have been subject to a formal export licensing regime. Authorities are also cracking down on smuggling and transit routes that previously allowed circumvention.
The consequences are evident in the export data: In June 2025, China’s antimony exports, according to customs statistics, were approximately 88% below January levels. In parallel, Beijing has refined its approach to strategic metals: Instead of blanket bans, a granular “export license list” mechanism is being applied – with a particular focus on dual-use technologies and security-relevant end applications. While additional licensing requirements (e.g., for magnets) were introduced for rare earths in 2025, China temporarily eased individual rare earth supply flows towards the USA. Observers interpret this as an indication that Beijing uses exports as a differentiated diplomatic instrument – while antimony is deliberately kept under tight control.
USA: High Import Dependence on Antimony – Politics and Capital Aligned
The United States is almost entirely import-dependent for antimony; there has been no significant domestic production since the closure of the last major mine. Against this backdrop, Washington is addressing the issue through several levers: Funding under the Defense Production Act is intended to stimulate domestic projects, public-private partnerships are to renew the industrial base, and raw material agreements with allies – particularly Australia and Canada – are to diversify supply.
What is new is the scale of private capital aligning with the security agenda. A prime example is JPMorgan’s “Security and Resiliency Initiative,” totaling approximately $1.5 trillion, which aims to bundle investments in critical raw materials, energy resilience, defense, and key technologies. CEO Jamie Dimon describes the program as a response to dependence on “unreliable sources of critical minerals.” The goal is to accelerate projects in reliable jurisdictions and relieve the vulnerable parts of the supply chain – including antimony.
Australia Moves into Focus – Antimony as a Test Case for Allied Supply Chains
Australia is positioning itself as a preferred partner of the USA for critical raw materials. According to company statements, the Australian Ambassador to Washington, Dr. Kevin Rudd, has involved several ASX-listed companies with US-relevant projects – including those related to antimony – in the political preparation. The embassy reportedly compiled a list of Australian suppliers that could be integrated into US critical minerals supply chains. This underscores Australia’s growing role as a “trusted supplier” – and makes antimony a litmus test for how quickly allied nations can reorder strategic raw material paths.
Outlook: With the interplay of export controls in China, rising demand from defense, electronics, and the energy transition, as well as political incentives in the USA and its partner countries, the market architecture for antimony is fundamentally changing. For buyers, these developments mean an increased need for planning – from securing physical deliveries to qualifying alternative sources. The fact that antimony has significantly increased in price since 2020 reflects the tightening of supply; at the same time, the debate about allocations among central banks and investors shows that “critical minerals” are no longer just raw materials, but tools of industrial and geopolitical policy.
Antimony thus remains a touchstone for resilient value chains: Whoever brings together processing capacities, permits, and financing shapes future availability – and thereby shifts the balance of power in the global raw materials market.
