Last year’s price increase was caused by China effectively banning the export of this strategic metal to the West in August 2023 (more on this in the forecast section below). The price of gallium has been volatile in recent years due to fluctuations in supply and demand. In 2020, the cost of gallium surged due to a shortage of bauxite, the primary raw material used to produce gallium.
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- In addition, gallium is used in alloys with other metals such as aluminum, copper, and tin to create gallium arsenide (GaAs).
- This makes it one of 35 elements the US government, alongside Europe, calls a national security concern.
- China has been graduating 200 metallurgists a week every week for the past 30 years, while the US has maybe 200 a year.
The shortage was caused by a combination of the Covid-19 pandemic and delays in mining operations and inspections in China, the world’s largest producer of gallium. No industry buyer will entertain a seller without a full chain of custody, analysis reports, purity levels, and proper storage facilities. Only because we are an industry supplier can we guarantee the fast and safe liquidation of the strategic metals of our investors.
With China so heavily controlling production (95%), there are growing concerns about how US and EU based companies will gain access to gallium in the coming years. To check Galactrum’s price live in the fiat currency of your choice, you can use Crypto.com’s converter feature in the top-right corner of this page. If you are new to crypto, use the Crypto.com University and our Help Center to learn how to start buying Bitcoin, Ethereum, and other cryptocurrencies. Regulations governing cryptocurrencies vary by jurisdiction and may change over time, which could impact the legality and use of cryptocurrencies. Create a free account to gain access to news, analysis, and real-time alerts on the stocks you follow.
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Galactrum’s price today is US$1.49, with a 24-hour trading volume of $N/A. No part of the content we provide constitutes financial advice on coin prices, legal advice, or any other form of advice meant for you to rely on for any purpose. Any use or reliance on our content is solely at your own risk and discretion. An overview showing the statistics of Galactrum, such as the base and quote currency, the rank, and trading volume.
⚠ Trading cryptocurrencies involves risk, and may not be suitable for all investors. Galactrum is an experimental new cryptocurrency that is autonomous, resiliant, self-governing and self-funding. Galactrum is based on proven technology from Bitcoin and Dash such as blockchain, masternodes, coin mixing and transaction locking. Any discerning investors who want to benefit from future gallium price raises by buying and owning some gallium can do this through us, Strategic Metals Invest. When you purchase with us, you are purchasing from the only globally licensed industry supplier that offers this option to private investors.
Don’t hesitate to contact us for more info or to talk to one of our strategic metals experts. It took them a generation to become the dominant market leader in gallium. While the US, EU, and other nations are now taking action to wean dependence off China, creating sustainable new supply sources will take 10 to 15 years. The high scarcity of gallium is a crucial factor that determines the asking price.
Gallium Historical Price Movement
As China dominates the production of gallium, geopolitical events and export quotas also impact gallium supply. Please note that the price provided is the retail price for private investors and is aligned with industry retail pricing. For bulk purchases, whether investment or industry, please contact us directly for a quotation. In addition to its use in 5G base station chipsets, gallium nitride is used in military radar, lasers, and satellites. This makes it one of 35 elements the US government, alongside Europe, calls a national security concern.
Gallium nitride (GaN) is another important compound of gallium that has applications in light-emitting diodes (LEDs), laser diodes, power amplifiers, and solar cells. Solid gallium alloys are used in optics, electronics, and nuclear engineering galactrum price because of their non-toxicity and resistance to neutron radiation and beta decay. Gallium is a soft, silvery metal, and Elemental gallium is a liquid at temperatures greater than 29.76C (85.57F) (slightly above room temperature).
The current price of Gallium is $755.80 per kg.
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news, and historical data for Bitcoin and thousands of altcoins. We also gather additional information from different sources to ensure we cover all necessary data or events. Galactrum price is $0, down 0.00% in the last 24 hours, and the live market cap is -.
They aim to dominate the market in products made with gallium-based chips for years to come. Huawei has already filed for 2,000 patents related to gallium, which https://cryptolisting.org/ is more than any other company. In addition, gallium is used in alloys with other metals such as aluminum, copper, and tin to create gallium arsenide (GaAs).
This is used in semiconductor fabrication, one of gallium’s most important uses. It provides a critical component in multiple steps of the manufacturing process for computer chips and other electronic devices. At today’s price of $755.80 per kg, gallium changed 0.00% since Jan 1st 2024, and +17.95% since the start of last year. It is up +78.80% compared to its price of $422.70 per kg on Jan 1st 2021 and increased +153.45% since Jan 1st 2020 (in comparison, the S&P 500 is up +48.88% over the same period). If we go back to Jan 1st 2018, when the cost of gallium was $274.37 per kg, then the increase is +175.47%.
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Scores are based on common sense Formulas that we personally use to analyse crypto coins & tokens. As a result of the price increase, many companies that use gallium had to cut back on production or find alternative sources of supply. The price increases were a major factor in the slowdown of the global economy in 2020.
To add insult to injury, China made good on their “export ban” threats when they stopped exporting gallium (and germanium) to the US, Europe, and Japan in August 2023. This is believed to be a clear reaction to the US’s ban on shipping advanced semiconductor manufacturing equipment into China. The gallium price increased over 20% in the months following China’s export ban. The demand for gallium is driven by the need for the final products that use this strategic metal. As noted above, gallium has various vital uses, such as in solar panels, computer chips, and TVs.