Japanese ITO Makers Offer Price Hike to Reflect High Indium Cost

Japanese sputtering target makers will offer additional price hike for ITO (indium-tin-oxide) sputtering targets, used as a transparent electrode material for liquid crystal panels. Liquid crystal panel makers had approved the previous hike announced in autumn 2009. However, the price hike range was narrower than 10-20% required by Japanese sputtering target makers. Sputtering target makers aim to cover the shortage in the previous hike while reflect the additional price upsurge of indium ingot since autumn 2009.

Indium ingot market price currently seems higher than US$ 550 per kilogram. Indium ingot is the main material for ITO sputtering targets. The market price bottomed out from US$ 400 in early December and jumped by 40% so far.

Major ITO sputtering target suppliers such as Nippon Mining & Metals and Mitsui Mining & Smelting finished inventory adjustment of indium ingot in autumn 2009 and restarted material procurement based on long-term contracts. They continue full productions of ITO sputtering targets thanks to the favorable demand.

International market price of indium ingot exceeded US$ 500 per kg in September 2009, rapidly surging from US$ 300-350 in July 2009. Nippon Mining & Metals and Mitsui Mining & Smelting offered 10-20% price hike for ITO sputtering targets to reflect high indium cost. But the consumers didn’t approve the hike fully. Current indium price is higher than in autumn 2009 and expected to surge more.