Monthly Indium Market Report Oct 2023

Contents

1 Market Highlights 1
2 Economy and Policy 2
2.1 China reports reserve increase in 40% of minerals in 2022 2
3 Market Movements 2
3.1 Chinese Market 2
3.1.Asian Metal Copyright2 AM Stats: Chinese indium ingot producers' output up by 36.Asian Metal Copyright1 Indium ingot 99.995%min EXW D/P 2
3.2 Chinese export market 2
3.2.Asian Metal Copyright23% Guangxi 12.Asian Metal Copyright1 Indium ingot 99.995%min FOB China 2
3.3 International Market 2
3.3.Asian Metal Copyright1 Indium ingot 99.Asian Metal Copyright1 Indium ingot 99.995%min in Warehouse Rotterdam 2
3.3.Asian Metal Copyright995%min price EXW China The prevailing prices of Chinese indium ingot 99.Asian Metal Copyright2 Indium ingot 99.995%min delivered America 2
4 Company News 2
4.1 Zhuzhou Smelter increases indium ingot output 2
4.2 Henan Yuguang Zinc Industry invites bids to sell indium ingot 3
4.3 Shaoguan Shengfa to resume crude indium production 3
5 Producers Statistics 3
5.1 AM Stats: Chinese indium ingot producers' operating rate up by 33.33% YoY in Oct 2023 3
5.2 AM Stats: Chinese indium ingot producers' output up by 36.31% YoY in Oct 2023 3
5.3 AM Stats: Chinese indium ingot producers' stocks down by 21.07% YOY in late Oct 2023 4
6 Export Statistics 4
6.1 China's unwrought indium export volume up by 304.13% YoY in Oct 2023 4
7 Market Outlook for Next Month 4
7.1 Indium Ingot 99.995%min price EXW China 4
7.2 Indium Ingot 99.995%min FOB China 4
7.3 Indium ingot 99.995%min price in warehouse Rotterdam 5
7.4 Indium Ingot 99.995%min price delivered America 5

Graph

Graph 1 Chinese indium ingot 99.995%min price trend from 2023-09-01 to 2023-10-30 (RMB/kg) 2
Graph 2 Chinese indium ingot 99.995%min FOB price trend from 2023-09-01 to 2023-10-30 (USD/kg) 2
Graph 3 European indium ingot 99.995%min price trend from 2023-09-01 to 2023-10-30 (USD/kg) 2
Graph 4 American indium ingot 99.995%min price trend from 2023-09-01 to 2023-10-30 (USD/kg) 2
Graph 5 Chinese indium ingot producers' operating rate from 2022-10 to 2023-10 (%) 3
Graph 6 Chinese indium ingot producers' operating rate by province from 2022-10 to 2023-10(%) 3
Graph 7 Chinese indium ingot producers' monthly output from 2022-10 to 2023-10 (ton) 3
Graph 8 Chinese indium ingot producers' monthly output from 2022-10 to 2023-10 by major province (ton) 4
Graph 9 Chinese indium ingot producers' monthly stocks from 2022-10 to 2023-10 (ton) 4
Graph 10 Chinese indium ingot producers' monthly stocks from 2022-10 to 2023-10 by province (ton) 4
Graph 11 China's exports of indium ingot by month from 2022-09 to 2023-09 (kg) 4
Graph 12 China's monthly exports of indium ingot by major destination from 2022-09 to 2023-09 (kg) 4

Table

Table 1 Chinese indium ingot producers' operating rate by province from 2022-10 to 2023-10 3
Table 2 Chinese indium ingot producers' monthly output from 2022-10 to 2023-10 by major province (ton) 4
Table 3 Chinese indium ingot producers' monthly stocks from 2022-10 to 2023-10 by province (ton) 4
Table 4 China's monthly exports of indium ingot by major destination from 2022-09 to 2023-09 (kg) 4













1 Market Highlights

During October, Chinese indium ingot 99.995%min suppliers generally lowered the prices to promote sales due to wait-and-see attitudes from buyers.Asian Metal Copyright33% YoY in Oct 2023 Graph 5 Chinese indium ingot producers' operating rate from 2022-10 to 2023-10 % According to statistics from Asian Metal Database, Chinese indium ingot 99.Asian Metal Copyright The market saw inactive inquiries and deals.

Entering this month, Chinese indium ingot 99.995%min export market also ran slowly as usual and most exporters marked down the export prices with lower prices from producers.

Since the beginning of this month, both European and American indium ingot 99.995%min markets saw inactive buying activities and most suppliers had to move down the prices and waited for consumers to purchase.

2 Economy and Policy
2.1 China reports reserve increase in 40% of minerals in 2022

Reserves of almost 40% of minerals in China increased in 2022, according to the latest version of national mineral resources report issued by the Ministry of Natural Resources. The report noted that substantial growth in reserves was registered for copper, lead, zinc, nickel, cobalt, lithium and other minerals in 2022.Asian Metal Copyright9 16.Asian Metal Copyright A total of 132 mineral deposits were newly discovered last year.Asian Metal Copyright12% 62.Asian Metal Copyright As of the end of 2022, a total of 173 kinds of minerals had been found in China, including 13 energy minerals, 59 metallic minerals, 95 nonmetallic minerals and 6 groundwater and gas minerals, according to the report.Asian Metal Copyright51% Other 97.Asian Metal Copyright In 2022, China's investment in the geological exploration of oil and gas and non-oil and gas minerals both increased, and important progresses were made in the exploration of strategic minerals such as gold, lithium and fluorite.Asian Metal Copyright20% 33.Asian Metal Copyright In 2022, fixed asset investment in China's mining sector continued to grow by 4.Asian Metal Copyright5 -15.Asian Metal Copyright5% over the previous year, and the output of main mineral products-maintained growth.

3 Market Movements
3.1 Chinese Market
3.1.Asian Metal Copyright1 Zhuzhou Smelter increases indium ingot output 2 4.Asian Metal Copyright1 Indium ingot 99.995%min EXW D/P

Graph 1 Chinese indium ingot 99.995%min price trend from 2023-09-01 to 2023-10-30 (RMB/kg)


In October, the mainstream prices of Chinese indium ingot 99.995%min declined from RMB1,950-2,000/kg (USD268-275/kg) EXW D/P at the end of September to RMB1,920-1,970/kg (USD264-271/kg) EXW D/P till the end of this month.Asian Metal Copyright1.Asian Metal Copyright To compete for orders, most suppliers had to lower the prices and the market ran slowly.

3.2 Chinese export market
3.2.Asian Metal Copyright1 Chinese Market 3.Asian Metal Copyright1 Indium ingot 99.995%min FOB China

Graph 2 Chinese indium ingot 99.995%min FOB price trend from 2023-09-01 to 2023-10-30 (USD/kg)


In October, the mainstream export prices of Chinese indium ingot 99.995%min declined from USD270-275/kg FOB China at the end of September to USD265-270/kg FOB China by the end of this month.Asian Metal Copyright5 -15.Asian Metal Copyright With soft prices from producers, most exporters also could accept cheaper export prices, while the export market still ran slowly.

3.3 International Market
3.3.Asian Metal Copyright42% 22.Asian Metal Copyright1 Indium ingot 99.995%min in Warehouse Rotterdam

Graph 3 European indium ingot 99.995%min price trend from 2023-09-01 to 2023-10-30 (USD/kg)


During October, the prevailing prices of European indium ingot 99.995%min decreased from USD265-270/kg in warehouse Rotterdam at the end of last month to USD255-260/kg in warehouse Rotterdam till the end of this month.Asian Metal Copyright3.Asian Metal Copyright The market saw inactive deals and some suppliers continued moving down the prices.

3.3.Asian Metal Copyright995%min FOB price trend from 2023-09-01 to 2023-10-30 USDkg 2 Graph 3 European indium ingot 99.Asian Metal Copyright2 Indium ingot 99.995%min delivered America

Graph 4 American indium ingot 99.995%min price trend from 2023-09-01 to 2023-10-30 (USD/kg)


Entering October, the mainstream prices of American indium ingot 99.995%min moved down from USD260-265/kg delivered America at the end of last month to USD245-250/kg delivered America till the end of this month.Asian Metal Copyright995%min price delivered America The prevailing prices of American indium ingot 99.Asian Metal Copyright The market ran slowly and most downstream consumers still refused to build more stocks.

4 Company News
4.1 Zhuzhou Smelter increases indium ingot output

One of major Chinese indium ingot 99.99%min producers, with the stability of production process and the improvement of recovery rate, Zhuzhou Smelter Group expected to produce no less than 5t of indium ingot 99.Asian Metal Copyright2 -5.Asian Metal Copyright995%min in October, an increase of around 2t from September.Asian Metal Copyright5 151.Asian Metal Copyright The producer, with a production capacity of 60tpy of indium ingot 99.Asian Metal Copyright2 AM Stats: Chinese indium ingot producers' output up by 36.Asian Metal Copyright99%min, produced about 3.Asian Metal Copyright9 -2.Asian Metal Copyright5t last month.Asian Metal Copyright07% 6 Export Statistics 6.Asian Metal Copyright They hold around 1.Asian Metal Copyright995%min producers' operating rate was 64.Asian Metal Copyright5t of stocks now, while did not hold any inventory late September.Asian Metal Copyright10% Germany 250 150 0 -100.Asian Metal Copyright They produced about 36.Asian Metal Copyright1 Indium Ingot 99.Asian Metal Copyright5t in 2022 and around 26t till now in 2023.

4.2 Henan Yuguang Zinc Industry invites bids to sell indium ingot

Henan Yuguang Zinc Industry Co., Ltd.Asian Metal Copyright9t of indium ingot 99.Asian Metal Copyright invited bids to sell about 10t of indium ingot.Asian Metal Copyright3.Asian Metal Copyright The closing date for the bids is October 26, 2023.

Details as follows:
Item: Indium ingot
Specification: In99995
Quality Standard: YS/T257-2009
Quantity: 10t

4.3 Shaoguan Shengfa to resume crude indium production

One of major crude indium 99%min producers in Northern China, Shaoguan Shengfa Nonferrous Metals Co. expects to resume crude indium 99%min production at the end of October and plans to produce no less than 300kg next month.Asian Metal Copyright Graph 10 Chinese indium ingot producers' monthly stocks from 2022-10 to 2023-10 by province ton Table 3 Chinese indium ingot producers' monthly stocks from 2022-10 to 2023-10 by province ton Province 202210 202309 202310 MoM YoY Guangxi 245.Asian Metal Copyright They hold around 2mt of raw material stocks now.Asian Metal Copyright Graph 12 China's monthly exports of indium ingot by major destination from 2022-09 to 2023-09 kg Table 4 China's monthly exports of indium ingot by major destination from 2022-09 to 2023-09 kg Country 202209 202308 202309 MoM YoY South Korea 21,995 28,997 29,498 1.Asian Metal Copyright The producer, having a production capacity of 60tpy of crude indium 99%min, holds no inventory now, unchanged MoM.Asian Metal Copyright64% -12.Asian Metal Copyright They ever halted the production in the middle of August.Asian Metal Copyright11% Japan 500 0 0 #DIV0! -100.Asian Metal Copyright They produced about 400kg in August and 1.Asian Metal Copyright07% from the end of October 2022.Asian Metal Copyright5t in July.Asian Metal Copyright90% 28.Asian Metal Copyright They produced about 1t totally in 2022 and around 3t so far in 2023.

5 Producers Statistics
5.1 AM Stats: Chinese indium ingot producers' operating rate up by 33.33% YoY in Oct 2023

Graph 5 Chinese indium ingot producers' operating rate from 2022-10 to 2023-10 (%)


According to statistics from Asian Metal Database, Chinese indium ingot 99.995%min producers' operating rate was 64.Asian Metal Copyright10% Germany 250 150 0 -100.Asian Metal Copyright16% in October 2023, down by 2.Asian Metal Copyright99%min, produced about 3.Asian Metal Copyright20% from September 2023, and an increase of 33.Asian Metal Copyright2 Indium Ingot 99.Asian Metal Copyright33% from October 2022.

Graph 6 Chinese indium ingot producers' operating rate by province from 2022-10 to 2023-10(%)


Table 1 Chinese indium ingot producers' operating rate by province from 2022-10 to 2023-10
Province 202210 202309 202310 MoM YoY
Guangxi 57.69% 75.Asian Metal Copyright Graph 6 Chinese indium ingot producers' operating rate by province from 2022-10 to 2023-10% Table 1 Chinese indium ingot producers' operating rate by province from 2022-10 to 2023-10 Province 202210 202309 202310 MoM YoY Guangxi 57.Asian Metal Copyright72% 64.Asian Metal Copyright45% 65.Asian Metal Copyright14% -15.Asian Metal Copyright Graph 12 China's monthly exports of indium ingot by major destination from 2022-09 to 2023-09 kg Table 4 China's monthly exports of indium ingot by major destination from 2022-09 to 2023-09 kg Country 202209 202308 202309 MoM YoY South Korea 21,995 28,997 29,498 1.Asian Metal Copyright29% 11.18%
Guangdong 48.75% 74.Asian Metal Copyright2 AM Stats: Chinese indium ingot producers' output up by 36.Asian Metal Copyright83% 65.Asian Metal Copyright50% 18.Asian Metal Copyright39% -12.Asian Metal Copyright1 Zhuzhou Smelter increases indium ingot output 2 4.Asian Metal Copyright62% 34.13%
Other 54.55% 53.Asian Metal Copyright1 AM Stats: Chinese indium ingot producers' operating rate up by 33.Asian Metal Copyright45% 65.Asian Metal Copyright4 Indium Ingot 99.Asian Metal Copyright42% 22.Asian Metal Copyright2 Indium ingot 99.Asian Metal Copyright39% 19.93%
Hunan 49.12% 62.Asian Metal Copyright1.Asian Metal Copyright45% 66.Asian Metal Copyright995%min in Warehouse Rotterdam Graph 3 European indium ingot 99.Asian Metal Copyright36% 6.Asian Metal Copyright5 6.Asian Metal Copyright26% 35.10%
Yunnan 36.00% 49.Asian Metal Copyright2 AM Stats: Chinese indium ingot producers' output up by 36.Asian Metal Copyright50% 58.Asian Metal Copyright50% 58.Asian Metal Copyright50% 18.Asian Metal Copyright1 Indium ingot 99.Asian Metal Copyright18% 62.50%
Total 48.12% 65.Asian Metal Copyright10% Yunnan 36.Asian Metal Copyright60% 64.Asian Metal Copyright5t of stocks now, while did not hold any inventory late September.Asian Metal Copyright16% -2.Asian Metal Copyright45% 66.Asian Metal Copyright20% 33.33%

5.2 AM Stats: Chinese indium ingot producers' output up by 36.31% YoY in Oct 2023

Graph 7 Chinese indium ingot producers' monthly output from 2022-10 to 2023-10 (ton)


According to the statistics from Asian Metal Database, Chinese indium ingot producers produced 147.9t of indium ingot 99.Asian Metal Copyright9 82.Asian Metal Copyright995%min in October 2023, a decrease of 2.Asian Metal Copyright2t of indium ingot 99.Asian Metal Copyright18% from September 2023, and up by 36.Asian Metal Copyright73% Yunnan 247.Asian Metal Copyright31% from October 2022.

Graph 8 Chinese indium ingot producers' monthly output from 2022-10 to 2023-10 by major province (ton)


Table 2 Chinese indium ingot producers' monthly output from 2022-10 to 2023-10 by major province (ton)
Province 202210 202309 202310 MoM YoY
Hunan 46.5 56.Asian Metal Copyright2 Henan Yuguang Zinc Industry invites bids to sell indium ingot 3 4.Asian Metal Copyright0 59.Asian Metal Copyright995%min EXW DP Graph 1 Chinese indium ingot 99.Asian Metal Copyright5 6.Asian Metal Copyright96% 6919.Asian Metal Copyright25% 27.96%
Guangdong 32.5 55.Asian Metal Copyright 7.Asian Metal Copyright5 48.Asian Metal Copyright1 China reports reserve increase in 40% of minerals in 2022 Reserves of almost 40% of minerals in China increased in 2022, according to the latest version of national mineral resources report issued by the Ministry of Natural Resources.Asian Metal Copyright5 -12.Asian Metal Copyright995%min in Warehouse Rotterdam Graph 3 European indium ingot 99.Asian Metal Copyright61% 49.23%
Guangxi 12.5 18.Asian Metal Copyright Graph 6 Chinese indium ingot producers' operating rate by province from 2022-10 to 2023-10% Table 1 Chinese indium ingot producers' operating rate by province from 2022-10 to 2023-10 Province 202210 202309 202310 MoM YoY Guangxi 57.Asian Metal Copyright3 15.Asian Metal Copyright5 -15.Asian Metal Copyright5 -15.Asian Metal Copyright2.Asian Metal Copyright30% 24.00%
Yunan 12.0 16.Asian Metal Copyright0 122.Asian Metal Copyright5 19.Asian Metal Copyright1.Asian Metal Copyright5 18.Asian Metal Copyright13% YoY in Oct 2023 4 7 Market Outlook for Next Month 4 7.Asian Metal Copyright18% 62.50%
Other 5.0 4.Asian Metal Copyright .Asian Metal Copyright9 16.Asian Metal Copyright995%min suppliers generally lowered the prices to promote sales due to wait-and-see attitudes from buyers.Asian Metal Copyright9 244.Asian Metal Copyright2 Indium ingot 99.Asian Metal Copyright90% 238.00%
Total 108.5 151.Asian Metal Copyright3 213.Asian Metal Copyright2 147.Asian Metal Copyright91% Guangdong 50.Asian Metal Copyright9 -2.Asian Metal Copyright10% Germany 250 150 0 -100.Asian Metal Copyright18% 36.31%

5.3 AM Stats: Chinese indium ingot producers' stocks down by 21.07% YOY in late Oct 2023

Graph 9 Chinese indium ingot producers' monthly stocks from 2022-10 to 2023-10 (ton)


According to the statistics from Asian Metal Database, Chinese indium ingot producers held 539.2t of indium ingot 99.Asian Metal Copyright18% from September 2023, and up by 36.Asian Metal Copyright995%min in stock at the end of October 2023, down by 5.Asian Metal Copyright5t of stocks now, while did not hold any inventory late September.Asian Metal Copyright96% from the end of September2023, and a decrease of 21.Asian Metal Copyright1 Zhuzhou Smelter increases indium ingot output 2 4.Asian Metal Copyright07% from the end of October 2022.

Graph 10 Chinese indium ingot producers' monthly stocks from 2022-10 to 2023-10 by province (ton)


Table 3 Chinese indium ingot producers' monthly stocks from 2022-10 to 2023-10 by province (ton)
Province 202210 202309 202310 MoM YoY
Guangxi 245.0 208.Asian Metal Copyright995%min price delivered America The prevailing prices of American indium ingot 99.Asian Metal Copyright3 213.Asian Metal Copyright995%min EXW DP 2 3.Asian Metal Copyright8 2.Asian Metal Copyright They hold around 2mt of raw material stocks now.Asian Metal Copyright64% -12.73%
Yunnan 247.0 122.Asian Metal Copyright995%min price delivered America 5 Graph Graph 1 Chinese indium ingot 99.Asian Metal Copyright0 100.Asian Metal Copyright2 147.Asian Metal Copyright0 -18.Asian Metal Copyright1 China's unwrought indium export volume up by 304.Asian Metal Copyright03% -59.51%
Other 97.6 111.Asian Metal Copyright16% -2.Asian Metal Copyright5 203.Asian Metal Copyright0 -18.Asian Metal Copyright9 82.Asian Metal Copyright50% Total 48.Asian Metal Copyright87% 108.91%
Guangdong 50.0 76.Asian Metal Copyright1 AM Stats: Chinese indium ingot producers' operating rate up by 33.Asian Metal Copyright0 65.Asian Metal Copyright Graph 8 Chinese indium ingot producers' monthly output from 2022-10 to 2023-10 by major province ton Table 2 Chinese indium ingot producers' monthly output from 2022-10 to 2023-10 by major province ton Province 202210 202309 202310 MoM YoY Hunan 46.Asian Metal Copyright5 -13.Asian Metal Copyright31% from October 2022.Asian Metal Copyright82% 31.00%
Hunan 43.5 55.Asian Metal Copyright Graph 6 Chinese indium ingot producers' operating rate by province from 2022-10 to 2023-10% Table 1 Chinese indium ingot producers' operating rate by province from 2022-10 to 2023-10 Province 202210 202309 202310 MoM YoY Guangxi 57.Asian Metal Copyright5 56.Asian Metal Copyright3 15.Asian Metal Copyright0 0.Asian Metal Copyright995%min delivered America 2 4 Company News 2 4.Asian Metal Copyright90% 28.74%
Total 683.1 573.Asian Metal Copyright5 203.Asian Metal Copyright3 539.Asian Metal Copyright33% from October 2022.Asian Metal Copyright2 -5.Asian Metal Copyright75% 74.Asian Metal Copyright95% -21.07%

6 Export Statistics
6.1 China's unwrought indium export volume up by 304.13% YoY in Oct 2023

Graph 11 China's exports of indium ingot by month from 2022-09 to 2023-09 (kg)


In September 2023, China exported 108,102kg of wrought indium ingot 99.995%min, up by 222.Asian Metal Copyright90% 28.Asian Metal Copyright80% from August 2023 and an increase of 304.Asian Metal Copyright12% 62.Asian Metal Copyright13% from September 2022.

Graph 12 China's monthly exports of indium ingot by major destination from 2022-09 to 2023-09 (kg)


Table 4 China's monthly exports of indium ingot by major destination from 2022-09 to 2023-09 (kg)
Country 202209 202308 202309 MoM YoY
South Korea 21,995 28,997 29,498 1.73% 34.11%
Japan 500 0 0 #DIV/0! -100.00%
United States 2,103 0 1,877 #DIV/0! -10.75%
Hongkong, China 1,000 433 13,481 3013.39% 1248.10%
Germany 250 150 0 -100.00% -100.00%
Other 901 3,909 63,246 1517.96% 6919.53%
Total 26,749 33,489 108,102 222.80% 304.13%

7 Market Outlook for Next Month
7.1 Indium Ingot 99.995%min price EXW China

The prevailing prices of Chinese indium ingot 99.995%min would go down in November considering that most producers intend to move down the prices to promote sales due to inactive deals in the spot market.

7.2 Indium Ingot 99.995%min FOB China

The mainstream export prices of Chinese indium ingot 99.995%min would move down next month in view that most exporters could accept lower export prices with soft prices from producers in the domestic market.

7.3 Indium ingot 99.995%min price in warehouse Rotterdam

The mainstream prices of European indium ingot 99.995%min would show a downtrend in the upcoming month given that some suppliers intend to lower the prices to promote sales.

7.4 Indium Ingot 99.995%min price delivered America

The prevailing prices of American indium ingot 99.995%min would go down in the following month with soft offers from suppliers.


.Asian Metal Copyright11% Japan 500 0 0 #DIV0! -100Asian Metal Copyright