Nippon Mining & Metals Seeks 10-15% Price Hike for ITO Target

Nippon Mining & Metals increases the selling price of indium tin oxide target material to cover higher indium cost. The firm already noticed the intention to the buyers for 10-15% hike for shipment in October-November. The firm also decided to restart long term purchase of indium from Korea Zinc from October, which was the first purchase in a year, while Nippon Mining & Metals is in negotiation to purchase indium from Dowa Electronics Materials in 2010.

International price of indium ingot exceeded US$ 500 per kilogram when the market participants expect Japanese government purchase for national stockpile and higher purchase by Nippon Mining & Metals. The international price was around US$ 300 since March due to thin purchase by ITO target makers.

The world largest maker of Nippon Mining & Metals with 45% of world ITO target market share decided the purchase from Korea Zinc after the adjustment of overstock. Nippon Mining & Metals’ Isohara plant, which has monthly 50 tonnes of production capacity, keeps almost full capacity operation with current workforce at more than 45 tonnes due to firm demand for liquid crystal panel television.

Nippon Mining & Metals is expected to purchase monthly 2-3 tonnes of indium for October-December from Korea Zinc while the firm is estimated to purchase around 10 tonnes last year. Nippon Mining & Metals will negotiate with Korea Zinc for purchase in and after January while the ITO maker is in negotiation with Dowa Electronics Materials and Chinese suppliers for the purchase.