China's Indium Exports to US Surge in June Amid Tariff Announcements

China's indium exports to the United States experienced a dramatic increase in June, driven by heightened demand following the US announcement of impending tariffs on Chinese imports. According to customs data, shipments to the US soared to 7,500 kilograms in June, a significant rise from zero during the same month last year. This figure represents 22% of China’s total indium exports of 33,921 kilograms for the month.

- In May, the US Trade Representative (USTR) confirmed the implementation of new Section 301 tariffs on Chinese imports, set to begin on August 1. However, these tariffs were subsequently delayed by two weeks, with the final decision expected later in August 2024. The tariffs will impact a broad range of sectors, including electric vehicles (EVs), critical minerals like indium, and solar cells.

- Meanwhile, exports to South Korea, the largest buyer of Chinese indium, remained stable at 23,991 kilograms in June, slightly down from 23,996 kilograms in the same period last year.

- The surge in US imports underscores the strategic importance of indium, a critical component in various high-tech applications, and reflects the ongoing complexities of the trade relationship between the US and China.