Feinan Resources’ upgraded 4N7 fine-indium project has entered mass production
and produced initial 99.997% (4N7) indium ingots. High-purity indium requires
high technical barriers and few Chinese firms have scalable, stable production.
The company is positioning indium as a strategic "compute metal" as AI-driven
demand for high-speed optical modules lifts need for indium phosphide
substrates. Global indium ore grades are declining and mining costs rising;
indium prices rose from ~2,500 yuan/kg in 2023 to ~5,300 yuan/kg in August 2026,
nearly doubling.
