China makes 99% of a metal that melts in your hand

China controls 99% of the world's gallium supply, a metal critical for semiconductors used in smartphones, EV chargers, 5G towers, and military radar. Gallium isn't rare — it's a byproduct of aluminum refining — but China spent decades building that refining capacity. In December 2024, China banned gallium exports to the US, causing price spikes and hoarding. A trade truce paused the ban, but that pause expires November 27, 2025. The first gallium production facility outside Chinese influence is only now coming online, raising urgent questions about what happens when the pause ends.