South Korea Says China’s Antimony Export Controls Will Have Limited Impact

Seoul, August 16, 2024 – The SouthKorean government has downplayed the impact of China’s recent announcement to impose export controls on antimony, stating that the move is expected to have a limited effect onrelevant Korean industries.

The Ministry of Trade, Industry and Energy held a supply chain review meeting on Tuesday, bringing together representatives from relevant government departments, institutions, and industry experts to discuss countermeasures. The meeting concluded that while China is a major supplier of antimony, South Korea has already diversified its import sources for antimony used in lead-acid batteries. Additionally, alternative materials exist for antimony used inflame retardants, and domestic zinc smelting processes produce antimony as a byproduct.

Considering these factors, we anticipate that the impact of China’s export controls on the domestic supply chain will be limited, a ministry official said.

Antimony is a key component in lead-acid batteries and flame retardants. South Korea imported $59.2 million worth of antimony last year, with approximately 74% (or $43.8 million) originating from China.

The Ministry of Trade, Industry and Energy also emphasized itscommitment to close cooperation with Chinese authorities to ensure a stable supply of antimony. The ministry will strengthen its monitoring and regulatory efforts to prevent any potential disruptions.

China’s Ministry of Commerce announced on Monday that it would impose export controls on antimony and other related materials starting from September 15th. The move,according to the Chinese government, is aimed at safeguarding national security and interests, as well as fulfilling international obligations related to non-proliferation.

This decision follows a series of export control measures implemented by China in recent months, targeting various strategic materials and technologies, including semiconductors, rare earth metals, and advanced manufacturing equipment.

While South Korea has expressed concerns about the potential impact of these measures on its economy, it has also emphasized its commitment to maintaining a constructive dialogue with China.

We believe that open communication and cooperation are crucial to addressing any potential challenges related to export controls, a South Korean government spokesperson said.

The South Korean government’s assessment of the limited impact of China’s antimony export controls is based on several factors:

Diversified import sources: South Korea has already diversified its import sources for antimony used in lead-acid batteries, reducing its dependence on China.
Alternative materials: Alternative materialsexist for antimony used in flame retardants, mitigating the potential impact of the export controls on this sector.
Domestic production: Domestic zinc smelting processes produce antimony as a byproduct, providing an additional source of supply within South Korea.

However, it is important to note that the situation remains fluid and the full impactof China’s export controls on South Korea’s antimony supply chain remains to be seen. The South Korean government will continue to monitor the situation closely and take necessary measures to ensure the stability of its domestic supply chain.

The recent developments highlight the growing importance of strategic materials and technologies in the global economy. Ascountries increasingly seek to secure their supply chains, tensions and competition over critical resources are likely to intensify.

【来源】https://cn.yna.co.kr/view/ACK20240816002000881?section=china-relationship/index&input=rss