Indium Price per Kilogram

How the indium price has moved across key timeframes. Change is calculated from the opening price of each period to the current price.

Indium is a soft, silvery-white metal best known as the key ingredient in indium tin oxide (ITO), the transparent conductor used in touchscreens, flat-panel displays, and solar panels. It is classified as a critical material by multiple governments due to its concentrated supply and lack of substitutes.

Indium was discovered in 1863 by German chemists Ferdinand Reich and Hieronymus Richter, who named it after the indigo spectral line it produces. It was of little commercial importance until the electronics revolution created demand for ITO in the 1990s and 2000s. China and South Korea dominate both production and ITO manufacturing today.

The largest use of indium — roughly 70–75% — is indium tin oxide (ITO) for liquid crystal displays (LCDs), touchscreens, and smartphones. The second major use is in compound semiconductors such as copper indium gallium selenide (CIGS) thin-film solar cells. Indium is also used in solders and low-melting alloys, infrared detectors, and as a coating in bearings. Demand from photovoltaics is growing as CIGS adoption increases.

Indium is a byproduct of zinc mining and smelting, extracted from the flue dusts of zinc processing. China is the dominant producer (~55–60% of refined output), followed by South Korea, Japan, Canada, and Belgium. Annual refined production is only around 800–900 tonnes globally, making it one of the rarest produced metals. Recycling from ITO sputtering targets and flat-panel waste is an important secondary source.

Indium is traded in OTC spot markets, with no major exchange contract. Prices are driven by LCD and touchscreen demand (linked to consumer electronics cycles), solar panel adoption (CIGS segment), supply from zinc smelters, Chinese production and export policy, and recycling rates from ITO manufacturing waste. The market is small and prices can be highly volatile.

Direct investment in indium is limited to physical metal purchased from specialist dealers. Indirect exposure is available through zinc mining equities (which produce indium as a byproduct), critical materials ETFs, and companies in the solar and electronics supply chain. Liquidity is very limited in all cases.