インジウム市場の動向

The Economics of Indium, 8th edition 2003

The indium market is characterised by a certain inflexibility of supply and increasing demand, which although strong, tends to be cyclical. Indium is a minor by-product of base metal refining and supplies can be interrupted by decisions driven by factors far removed from the indium market, such as the recent closure of the Metaleurop smelter in northern France. From the late 1990s China has been an increasingly important supplier of indium but an accident at a zinc mine reduced the supply of raw materials to Chinese indium refiners. In 2002 China accounted for nearly 30% of supply and France for a further 18%. At the same time demand for indium in ITO coatings for LCD displays has been growing strongly, although cyclically, and this one application now accounts for 75% of indium demand. Prices for indium have increased through 2003 as the market reacted to insecurity of supply. This is the fourth spike that the market has experienced in the last thirty years. The first was caused by increased use in nuclear power reactors in the 1970's, then the increase in demand for indium in compound semiconductors forced the price up in the mid 1980s. In 1995 it reached US$580/kg when the potential of the use of ITO in LCDs was established. Underlying growth for indium has been quite steady over the past few decades but price history clearly does not reflect this. Periods of perceived shortage and stockpiling have been followed by times when stockpiles are run down and plummeting prices. This tends to remove secondary resources from the market, as recycling is not viable at prices below $150-200/kg. Future demand for indium is likely to continue to grow strongly as flat screen LCD television and computer screen monitors replace the much bulkier CRTs over the next five years. This new report from Roskill examines current and projected primary and secondary indium production in detail and evaluates the likelihood that future supply will be able to meet growing demand.

The key trends, issues and developments in the market are now analysed in this major new report from Roskill. It provides a clear insight into all areas of the industry and an authoritative analysis of the prospects for the future.

Chapters

• 1. Summary
• 2. Occurrence, relative abundance and reserves
• 3. World production
• 4. Production by country and company
• 5. World consumption
• 6. End uses
• 7. International trade
• 8. Prices

Table of Contents

1. Summary

2. Indium; properties, occurrences and reserves

3. Indium recovery

Indium production from primary sources & recovery from secondary materials: Indium recovery from spent ITO sputtering targets

4. Production of indium

Mine production of indium from zinc ores, Refinery production of indium; Secondary production of indium; World indium refinery capacity

5. Notes on indium producing countries & companies

Australia: Amac Alloys; Belgium; Bolivia; Canada: Falconbridge Ltd.; Teck Cominco; China: Changsha Fengchao Pigment Chemical Co. Ltd; Dongwu Nonferrous Metals Mine; Huludao Zinc Industry Co of China; Liuzhou China Tin Group (Huaxi); Jiangxi Copper Co.; Nanjing Germanium Plant; Tianjin Indium Products Co. Ltd; Yunnan Tin Co. Ltd.; Zhuzhou Smelter; Dominican Republic; France; Germany: Fremat GmbH & Co. KG; HEK GmbH.; PPM Pure Metals GmbH.; Italy; Japan: Asahi Pretec Corp.; Dowa Mining Co. Ltd.; Japan Energy Corp.; Mitsui Mining and Smelting Co.; Shinko Chemical Co. Ltd.; Sumitomo Electric Industries Ltd.; Sumitomo Metal Mining Co. Ltd.; Kazakhstan; Namibia; Netherlands; Peru; Russia; South Korea; Taiwan; Ukraine; United Kingdom; USA: AIM Inc.; Alfa Aesar; Belmont Metals Inc.; Indium Corp. of America; MCP Metalspecialities Inc.; Umicore Indium Products; Indium stockpiles; Uzbekistan

6. International trade in indium

7. Consumption of indium

Consumption by end use: Japan; USA; Indium consumption forecasts

8. End uses consuming indium-tin oxide (ITO)

Flat panel display applications for indium tin oxide: Liquid crystal displays; Plasma display panels; Electrochromic displays; Field emission displays; Principal market drivers for flat panel displays

• Mobile telephones
• Computer monitors
• Televisions
• Watches and calculators
• Digital video and still cameras

Major producers of flat panel displays

• Arima Display Corp.
• AU Optronics
• BOE Technology Co. Ltd.
• Chi Mei Optoelectronics
• Chunghwa Picture Tubes
• HannStar Display Co.
• Innolux
• LG Philips LCD
• Quanta Display Inc.
• Samsung Electronics
• Sharp Corp.
• Sony Corp.

Other applications for indium tin oxide coatings: Applications for indium tin oxide in architectural glass; clear plastic sheeting; low pressure sodium lamps; for solar collectors; in windshield glass; cathode ray tubes; electronic paper; Forecasts for indium demand in ITO films

9. End uses for other indium compounds Applications for indium in semiconductors:

Indium as a doping agent in semiconducting devices; Indium in compound semiconductors

• Fabrication of compound semiconductors
• Producers of indium compound semiconductors

Indium-based compounds in laser diode (LD) applications; Applications for indium compounds in photodetectors

• Fibre optic telecommunications

Indium in light emitting diodes

• Indium-based red-green LEDs
• Indium-based blue and green LEDs
• Ultra violet and white LEDs
• LED Producers
• Markets for LEDs

Photovoltaic cells

• Thin film photovoltaic cells
• High-Efficiency Multijunction Devices
• Producers of photovoltaic cells
• Optoelectronic integrated circuits (OEICs)

Other semiconductor applications for indium compounds; Semiconductor production and indium demand; Batteries; Electrodeless lamps; Phosphors

10.End uses consuming indium metal and alloys

Low melting-point alloys: Fusible alloys

• Uses of fusible alloys

Mercury replacement alloys; Solders containing indium . Lead-free solders

Forecasts for indium demand in low-melting point alloys; Other indium alloys: Cathodic protection; Dental alloys; Nuclear control rods; White gold alloys; Indium plating: Indium plated bearings; Indium decorative finishes; Other uses for indium in plating; Nuclear radiology; Other minor uses of indium metal

11. Indium prices Indium price history

LIST OF TABLES

1-4: Primary indium producers; Indium: Physical characteristics; Indium contents of common ore minerals; Indium minerals

5-7: World: Indium reserves and reserve base, 2003; Estimated mine production of indium, 2002; Estimated refinery production of indium,1990-2002

8: Recyclers of indium

9: World: Estimated indium refinery capacity, 2003

10: China: Production of indium, 1997-2002

11-13: Japan: Primary indium supply & demand, 1973-2002; Supply/demand balance, 1996-2002; Imports of indium, divided by country of origin, 1994-2003 14: USA: Imports and consumption of indium, 1996-2002 15-16: Principal exporters & importers of indium, 1995-2002

17-22: Exports & imports of unwrought indium and powders 2000; 2001; 2002

23: World: Primary indium consumption divided by region, 1969-2002

24: Major end uses for different forms of indium

25: World: Division of indium demand by end-use, 2002

26: Japan: Consumption of indium by end-use application, 1996-2002

27: USA: Consumption of indium by end-use, 1997-2002

28: Producers of ITO powders and sputtering targets

29: Worldwide mobile phone sales, 1999-2003

30: Properties of indium compound semiconductors

31: Semiconductor laser materials.

32: Properties of indium-based LEDs

33: Worldwide photovoltaic market, 2001 and 2006

34: Photovoltaic cells: Typical and maximum cell conversion efficiencies

35-36: Japan: Shipments of InP semiconductor material 1993-2002; Manufacturers of indium-bearing fusible alloys & solders

37: Indium Corp. of America: Selected fusible indium alloys

38: Major applications of Ostalloy fusible alloys

39: Indium Corp. of America: Mercury replacement alloys

40: AIM Specialty Solders: Indium solders

41: Recommended alloys for joining metal and alloys

42: Neutron absorption values of indium & other alloying elements

43: Control rod materials

44: Operational, under construction & closed reactors, June 2003

45: Upper and lower free market indium prices, ingots, min. 99.97%, in warehouse 1983 to 2003

46: Indium Corp. of America: Maximum monthly prices for 99.97% indium ingots 1980 to 2003