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Why is Critical Metals Stock Down Today After Export Restrictions

Critical Metals Corp. (CRML) saw its stock price decline by 1.73% to close at $6.80 on October 2, 2024. The stock opened at $6.83 and reached a high of $7.1095 before settling at its lowest point of the day. The trading volume was notably low, at 8,887 shares, which is just 46.88% of the average daily volume. The decline in CRML's stock price is attributed to investor concerns over recent news about antimony shortages, exacerbated by China's export restrictions. Antimony prices have surged to over $22,750 per ton, more than doubling since late 2023, as global tensions rise and the metal's importance for military applications becomes more pronounced. Discussions on social media platforms like Reddit reflect a mix of optimism and caution, with some users highlighting the potential for domestic antimony projects while others warn of the market's vulnerability to China's export policies.