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INDIUM ADVOCATE NEWS

Price And Long-Term Outlook Issue No. 29 November – December 2007

Longer-term Outlook: After the price-spike of 2003-2004, one might have expected a new mine source such as the deposit at Neves Corvo in Portugal to come onstream, even though indium is a byproduct.  This did not occur.  Instead there has been a major increase in recycling, especially of ITO sputtering targets and in Japan, and technological improvements in this process of sputtering has made it much more efficient.

The major end-use, ITO sputtering on glass screens for flat panel TVs and laptop computers will still grow significantly, but is maturing.  The most rapidly-growing end uses are likely to be in solar cells (photovoltaics), and in indium alloys that substitute for lead and have no feasible price-sensitive alternatives.

New readers of IAN should also check the cover for "Early-Bird" Outlooks, the only place short-term outlooks appear, and the large body of information built up in the back issues, Issues 1 to 27; Issue 29 begins the reorganized series.

The New York Dealers' price for indium was $80-$95 per kg in late 2000-early 2001, then bottomed at $60-$75 per kg in late November 2002.

Then the price spike began; the price was $90-$105 per kg in early February 2003, $125-$145 per kg in early May, $160-$180 per kg in early June, $185-$200 in early October, $185-$225 on November 10, $260-$285 on November 17, and $305-$335 per kg on December 8, 2003.  Continuing in 2004, the price was $355-$395 per kg on January 12, $380-$420 on February 2, $415-$430 on February 9, $435-$470 on February 23, $535-$560 on March 15, 2004, and $550-$600 per kg on March 22.

After the spike, the price backed and filled around the $585-$640 per kg of May 2004, then rose to $775-$825 per kg in late September, $880-$940 per kg in late October 2004, and $850-$900 per kg from the beginning of November until the beginning of December.  Finally, the price was $780-$850 per kg in late December 2004, $990-$1025 per kg in early February 2005, $980-$1050 per kg in late April 2005, hit a low at $850-$950 per kg in late July, then $940-$980 per kg in early August, and $970-$1060 per kg in midSeptember 2005.  These are the highest prices since 1939!!

The NY Dealers' price for indium was $950-$980 per kg in midApril 2006.  The price then continued to erode to $800-850 per kg in early June, to $700-750 in late August, and bottomed at $650-700 in late October 2006.  Prices bounced back to $680-730 per kg in early March 2007, then down to $630-$680 per kg in July-early August 2007, $580-$630 in late August-September, $525-$575 in October, and $515-$565 per kg in midNovember 2007.

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