China restricts exports of some minerals used in high-performance chips, WSJ says

China set export restrictions on two minerals the U.S. says are critical to the production of semiconductors, missile systems and solar cells, The Wall Street Journal’s James T. Areddy and Sha Hua report. The minerals-gallium and germanium-and more than three dozen related metals and other materials will be subject to unspecified export controls starting Aug. 1, Beijing’s Ministry of Commerce said Monday. Its statement referred to safeguarding national security and interests and said some future export applications would require review by the government’s top body, the State Council. Shares of MP Materials (MP) are up almost 10% in pre-market trading on Wednesday, while AXT Inc. (AXTI) and Navitas Semiconductor (NVTS) are both down.