Strategic Metals are raw materials critical to modern technology and industry, but whose supply is limited and subject to disruption due to two hugely influencing factors. The first is the inflexibility of production. Technology Metals like gallium do not occur naturally in the earth’s crust and are always a by-product of another raw material. Because of this, when demand increases, production (supply) is rigid and cannot be increased. The second factor is China. For example, 98% of the world’s gallium is produced in China. This makes China the largest producer, importer, exporter, and consumer of gallium simultaneously.

Strategic Metals differ from “base metals” like copper, iron, lead, and zinc in that they are relatively abundant worldwide. They also differ from “precious metals” such as gold and silver because they are not considered vital to technology and industry. Strategic Metals are the backbone of manufacturing in the 21st century.

Strategic Metals include technology metals, such as gallium, hafnium, and germanium, and rare earth metals, such as dysprosium, neodymium, and terbium.