Interviewed by Bloomberg TV’s The Pulse and journalist Francine Lacqua, METLEN Executive Chairman Evangelos Mytilineos warned that Europe could face a particularly challenging winter unless tensions ease either in the Middle East or in Ukraine. He noted that conditions in the LNG market are becoming increasingly critical, drawing parallels with the period of late 2022 and early 2023, while electricity prices across Europe have already surged significantly.
Turning to the gallium market, Mr. Mytilineos highlighted that METLEN’s key strategic advantage lies in its highly competitive production cost base, enabling the company to maintain a strong competitive position against China even if the latter re-enters the gallium market more aggressively. As he explained, gallium is a global market of approximately 1,000 tonnes annually, with China controlling the overwhelming majority of production. Following the export restrictions imposed in 2023, a substantial volume of gallium was removed from international markets, resulting in a significant increase in prices.
Commenting on the broader policy framework for critical raw materials, he noted that the United States appears more willing to support such investments, whereas the European approach remains more complex. He reiterated that the European Union has included gallium among its list of 34 Critical Raw Materials, recognizing its strategic importance for semiconductors, defence applications, and the energy transition. Finally, Mr. Mytilineos stressed that more decisive action at EU level is required to strengthen Europe’s industrial base and reduce its dependence on third countries for strategically important raw materials.
