Japan Indium Import Shows Sign to Recover

Japanese indium import increases months. The import increased by 39% to 32 tonnes in April from March, which was the highest level in half year. Sputtering target material makers apparently increase the offshore procurement while the largest target material maker of Nippon Mining & Metals is still reluctant to buy now. Japanese indium import dropped by 15% to 368 tonnes in 2007 from 2006. The import was also slow in earlier the year when the import was 22 tonnes in January, 18 tonnes in February and 23 tonnes in March. However, the volume jumped in April when the buyers started to increase the purchase volume after conservative purchase under surging market. The international market price surged by 65% in April due to speculative purchase. However, the users’ purchase is still weak and the market participants expect the price could drop from the overvalued level. Indium tin oxide target material for flat panel display represents around 90% of indium consumption. Under growth of flat panel display market, ITO demand keeps growing.