June 2025 Monthly Review – Zero-Line for Three Critical Raw Materials – Supply Security Remains a Key Topic
June began with a significant event: Berlin’s Senator for Economic Affairs, Franziska Giffey, visited our raw materials warehouse and discussed Germany’s alarming dependence on essential raw materials. The figures are clear:
- Over 90% dependence on Gallium
- Around 40% on Germanium
- Almost 100% on heavy Rare Earths
At the beginning of the month, new reports from China also made headlines. China’s customs authorities reported zero grams of gallium exports for May and only 98 kilograms of germanium for April – a 93% decrease compared to the previous month. The consequences were immediate:
- Price jumps of up to 50% for dysprosium and terbium oxide
- First companies forced to reduce production
- Threat of losses amounting to millions
Export licences remain a geopolitical lever
In mid-June, China selectively eased its export controls. At the same time, Washington lifted parts of its chip blockade. However, this geopolitical back-and-forth continues to disadvantage Europe. As long as the high tariffs on Chinese electric vehicles are not adjusted, European companies will remain sidelined. Meanwhile, the platinum price reached a new high, up 44% since the start of the year. The reasons include depleted inventories, a lack of exploration, and the jewellery industry shifting away from gold. Despite these developments, Noble BC can continue to supply gallium, germanium and platinum reliably and transparently from its own inventories.
Japan’s lead, Europe’s lag
While Europe is still debating, Japan is setting clear priorities. At the G7 summit and during Federal President Steinmeier’s Expo visit, Japan presented itself as a prime example of strategic thinking. Since the China shock of 2010, impressive progress has been made:
- Reducing dependence on rare earths from 90% to 60%
- Building gallium reserves for 180 days
- Consistently reducing overall consumption
And European industry? It continues to rely on “just-in-time” concepts, demonstrating a dangerous short-sightedness. While Japan excels through a combination of forward-looking policy and committed industry, at Noble BC we focus on what we do best: storing and supplying.
Media attention and recycling offensive
June was also an active month for us in the media. As part of the two-part TV report “China and Us”, we were able to deliver a clear message: “If China does not supply, the lights go out in Europe.” The footage provided insights into our warehouse, our political discussions, and the impact on industry.
In view of stagnating supply chains, we also launched our recycling initiative in June. We collect gallium- and germanium-containing production waste such as wafers, fiber optics, and old traffic lights to keep commodities in circulation. However, the figures show just how critical the situation is:
- Zero grams of gallium
- No delivery of terbium and dysprosium oxide
- Without targeted measures, entire industrial sectors risk coming to a standstill.
Outlook for July 2025
Seltene Erden AG (SE AG) remains at the centre of attention: the physically backed security, which for the first time provides regulated access to strategic metals such as gallium, indium and hafnium, has officially launched on the market. SE AG is thus setting a new standard for transparency, physical security and regulatory clarity in the field of commodity investments.
At the same time, geopolitical tensions continue to intensify. The ongoing Iran–Israel conflict, new US sanctions against Chinese technology exports, and growing supply chain disruptions make one thing clear: access to critical raw materials is increasingly becoming a strategic issue for states and investors. The EU–China summit is particularly in focus—so far without tangible results regarding special arrangements for the raw materials trade. European industry risks being caught between the interests of the major powers.
Especially in this environment, SE AG is more than an investment vehicle—it is a signal of resilience and Europe’s ability to act. Over the course of the month, it will become clear how strongly demand for genuinely backed commodity assets increases—and how much investors come to appreciate the value of real substance in uncertain times.