Gallium Price Today: Industrial Spot, FOB & Outlook

Last updated: 3 September 2026 · Updated monthly · Sources: Shanghai Metals Market (SMM); USGS Mineral Resources Program

The gallium price stands at $234.53/kg on the SMM industrial benchmark for 3 September 2026 — essentially flat, down 0.04% from $234.62/kg at the August benchmark. The China FOB export price, however, broke its four-month hold at $400/kg this cycle, rising to $433/kg — up 8.25% month-on-month. This is the first FOB move since the price settled at $400/kg in May, and it widens the domestic-to-FOB spread to approximately $198/kg from August’s $165/kg, even though the domestic benchmark itself barely changed. Gallium trades in two structurally separate markets that produce prices an order of magnitude apart. The SMM industrial benchmark reflects bulk Chinese domestic transactions; the retail investment price — where available — reflects small-lot, investment-grade material sourced and warehoused in Europe, carrying storage, insurance, certification, logistics, and dealer margin.

Current Gallium Price: Spot Rates (3 September 2026)

The FOB price moving to $433/kg while the domestic gallium price held essentially steady at $234.53/kg widens the domestic-to-FOB spread from approximately $165/kg in August to approximately $198/kg in September. This is the first FOB movement since the price settled at $400/kg in May, ending a four-month stretch of stability and pointing to a fresh shift in export licensing friction or premium rather than any change in Chinese domestic production costs.

Gallium Price History 2018–2026

The retail price series from Strategic Metals Invest provides the longest comparable annual dataset for the gallium price. The table below shows January 1 reference prices with key market context.

From January 2020, the retail gallium price has risen over 660% to the most recently recorded figure — reflecting a structural repricing of a metal that was for decades treated as an inconsequential aluminium by-product.

Industrial vs Retail Gallium Price: Why the Gap Exists

The gap between the SMM China domestic gallium price and the retail investment price reflects different supply dynamics at different market levels. The Chinese domestic market is supply-adequate; Chinese producers still account for 95%+ of global output and domestic buyers transact at lower prices unaffected by export licensing costs. The retail Western market runs short of bonded ex-China material — licensed stock that has already cleared export controls and sits in European warehouses. That scarcity drives the retail premium higher even as the Chinese benchmark fluctuates modestly. The FOB price’s move to $433/kg this month — its first change since settling at $400/kg in May — is worth watching as a potential signal that export licence approval friction or premium is shifting, even though Chinese domestic production volumes and pricing remain essentially unchanged.

What Is Driving the Gallium Price in 2026?

China Export Controls: The Primary Gallium Price Floor

China accounts for an estimated 95%+ of global gallium production, almost all of it as a by-product of aluminium refining and, to a lesser extent, zinc smelting. Beijing has used this dominance as a deliberate policy lever since mid-2023, when it introduced export licensing requirements for gallium and germanium. In December 2024, China escalated further with a targeted ban on gallium exports to the United States, framed as retaliation against US semiconductor restrictions. Throughout 2025, Chinese authorities intensified anti-smuggling enforcement, closing grey-market channels that had partially offset earlier licensing friction.

The result is a structural gallium price floor for Western buyers. Export approvals for non-US destinations remain available but subject to case-by-case review, adding lead time and compliance cost. Analysts expect these controls to remain in place through at least 2027, subject to the trajectory of US-China technology trade tensions.

GaN and GaAs Semiconductor Demand

Gallium nitride (GaN) and gallium arsenide (GaAs) are the primary end-uses consuming refined gallium. GaN power devices have become the default architecture for EV fast chargers — their superior switching efficiency at high voltages makes conventional silicon increasingly non-competitive in new designs. The global EV fleet is forecast to require multiples of current GaN production capacity through the decade. GaN and GaAs are also central to 5G base station radio frequency components and defence radar systems, where phased-array radar and electronic warfare platforms depend on GaAs chips with no near-term substitute. US Department of Defense procurement of GaAs-based components has risen materially since 2023.

Thin-Film Solar and LED Applications

Copper indium gallium selenide (CIGS) thin-film solar cells represent a growing secondary gallium demand stream. Though CIGS holds a small share of total solar installed capacity, its use case in building-integrated photovoltaics (BIPV) and flexible panel applications is expanding. LED manufacturing, historically gallium’s largest application by volume, has matured as a demand driver but remains a meaningful baseline. Combined with semiconductor growth, total gallium demand is on a structurally upward path analysts describe as supply-inelastic through mid-decade.

Policy Tailwinds: CRMA and US Critical Material Designations

The EU Critical Raw Materials Act (CRMA) names gallium as a strategic raw material, mandating that EU member states work toward reducing import dependency on single third-country sources. Compliance deadlines in 2025–2027 are expected to sustain institutional buying pressure from European manufacturers seeking verified non-Chinese inventory. In the United States, the Department of Energy and the USGS have both designated gallium a critical material, and the Department of Defense has conducted market assessments for strategic reserve purposes.

Western Gallium Supply Development: Structural Constraints

Gallium cannot be mined directly. It is recovered as a trace by-product from alumina refinery liquors and zinc smelter residues — meaning gallium output is constrained by the economics and throughput of host-metal operations, not by gallium price signals alone. No operator runs a bauxite refinery to produce gallium; gallium recovery simply adds marginal revenue to an aluminium or zinc business.

Nyrstar, the European zinc smelting group, has historically been one of the few non-Chinese gallium producers. Indium Corporation handles processing and distribution in North America. A handful of emerging US projects are exploring gallium recovery from domestic aluminium refining streams, supported by DOE critical minerals funding. Analysts expect Western recovery capacity to remain a fraction of Chinese output through 2028 at minimum.

Gallium Price Outlook

The domestic gallium price held essentially flat in September at $234.53/kg, but the FOB export price broke its four-month plateau to move to $433/kg — the first FOB change since May. Whether this marks the start of renewed FOB volatility or a one-off adjustment is not yet clear and is worth watching closely at the next update. The near-term outlook for the industrial price remains a broad range of $220–$300/kg, subject to any shift in Chinese licensing posture or US-China trade negotiation signals; the FOB move introduces a fresh variable that wasn’t present in the prior three stable months. Western retail prices are expected to continue tracking bonded stock scarcity and CRMA compliance-driven institutional buying, independent of the domestic benchmark’s month-to-month moves.

Medium-term upside catalysts include continued GaN capacity expansion, potential US strategic stockpile procurement, and CRMA compliance timelines. The primary downside risk remains a diplomatic resolution of US-China semiconductor tensions — assessed as low probability in the near term. Over a three-to-five year horizon, the demand drivers for the gallium price are compounding: power electronics for electrification, 5G and 6G radio infrastructure, and defence electronic warfare systems. None of these demand streams is expected to contract materially, and supply diversification faces multi-year capital timelines.

Gallium and Germanium: Twin Export-Control Metals

The gallium price has a close parallel in the germanium price. Both are by-products of base-metal refining, both face 80–95%+ Chinese production concentration, and both sit on the EU CRMA strategic materials list. The December 2024 Chinese export restrictions covered both metals simultaneously. Procurement analysts tracking the gallium price are advised to monitor germanium pricing in parallel — the two metals are subject to similar policy risk. See the germanium price page for its current month-on-month move alongside this update.

Gallium Price Per Gram, Ounce and Pound

The conversion table below is calculated from the SMM industrial gallium benchmark and updated monthly.

Gallium Price in GBP, EUR and Other Currencies

Currency conversions are calculated from the SMM industrial benchmark using approximate exchange rates at the time of publication and are for reference only. For live rates, consult your preferred currency provider.

For broader context, see our Rare Earth Market Outlook — May 2026.

Industrial benchmark data sourced from Shanghai Metals Market (metal.com). For USGS production and reserve statistics, see the USGS Mineral Resources Program — Gallium.

Investment Disclaimer: The information on this page is provided for informational and research purposes only and does not constitute investment advice, a solicitation, or a recommendation to buy or sell any asset. Gallium and other critical mineral prices are subject to significant volatility. Past price performance is not indicative of future results. Readers should conduct their own due diligence and consult a qualified financial adviser before making investment decisions.