Citigroup cuts copper forecast on tariffs risk, China outlook
The bank has cut its short-term outlook for copper prices by 11% to $8,500 a ton over the next three months.
The Pentagon holds a strategic stockpile for germanium but currently has no inventory reserves for gallium, a spokesperson said on Thursday after China announced export restrictions on the two metals used in semiconductors.
“The (Defense) Department is proactively taking steps using Defense Production Act Title III authorities to increase domestic mining and processing of critical materials for the microelectronics and space supply chain, including gallium and germanium,” the spokesperson said.
(By Idrees Ali and Rami Ayyub; Editing by Doina Chiacu)
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