'China, World's Top Graphite Producer, To Curb Exports Of Key Battery Material' - Reuters News
Portfolio Pulse from Benzinga Newsdesk
China, the world's top graphite producer, will require export permits for some graphite products to protect national security. This move is seen as a response to challenges over its global manufacturing dominance. The new restrictions will apply from Dec. 1 and will affect two types of graphite, including high-purity, high-hardness and high intensity synthetic graphite material, and natural flake graphite and its products. This could impact countries like Japan, the United States, India and South Korea, which are top buyers of graphite from China.
October 20, 2023 | 1:24 pm
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NEGATIVE IMPACT
The new export restrictions on graphite by China could potentially impact the performance of the iShares China Large-Cap ETF (FXI), as it could affect the profitability of Chinese companies included in the ETF.
The new export restrictions could potentially lead to a decrease in revenues for Chinese companies that export graphite, which could in turn impact their profitability. As these companies are part of the iShares China Large-Cap ETF (FXI), this could negatively impact the ETF's performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
The new export restrictions on graphite by China could potentially impact the performance of the SPDR S&P 500 ETF (SPY), as it could affect the profitability of US companies that rely on graphite imports from China.
The new export restrictions could potentially lead to an increase in costs for US companies that rely on graphite imports from China, which could in turn impact their profitability. As these companies are part of the SPDR S&P 500 ETF (SPY), this could negatively impact the ETF's performance.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60