AsianFin -- China’s exports of two strategically important minerals—antimony and germanium—have plunged in recent months, even as rare earth shipments begin to recover, reflecting the impact of intensified crackdowns on smuggling and transshipment, with involvement from China’s top intelligence agency.

Exports of antimony and germanium fell 88% and 95%, respectively, in June compared to January, according to customs data released Sunday. China is the dominant global producer and refiner of both materials, which are critical for defense systems, telecommunications equipment, and solar technology.

The two minerals were placed on China’s export control list in 2023 and 2024, respectively. In December, Beijing imposed a ban on exports to the U.S. as part of its countermeasures against Western semiconductor restrictions.

Rare earths were also added to the same control list in April, triggering a sharp decline in overseas shipments and prompting some automakers in the U.S. and Europe to temporarily halt production lines. However, rare earth exports have since begun to rebound, suggesting some easing or adaptation to the new regulatory regime.