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Cadmium Ingot Price Trend and Forecast

⟳ Weekly Update
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Historical Data Since 2015
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Forecast for 2026
  • Commodity Pricing

cadmium ingot Price Trends by Country

cnChina
inIndia
usUnited States
nlNetherlands

Global cadmium ingot Spot Market Prices, Trend Analysis and Forecast

Price Watch™ provides real-time price assessments and price forecasts for Cadmium Ingot across top trading regions:

Cadmium Ingot Regional Coverage Cadmium Ingot Grade and Country Coverage Cadmium Ingot Pricing Data Coverage Explanation
Asia-Pacific Cadmium Ingot Pricing Analysis Cadmium Ingot 99.99%min EX-Shanghai Domestic Prices, China Weekly Price Update on Cadmium Ingot 99.99%min Real-Time Domestic
Prices in Shanghai, China
Cadmium Ingot 99.99%min EX-Mumbai Domestic Prices, West India Weekly Price Update on Cadmium Ingot 99.99%min Real-Time Domestic
Prices in Mumbai, West India
North America Cadmium Ingot Pricing Analysis Cadmium Ingot 99.99%min Del Baltimore Domestic Prices, USA Weekly Price Update on Cadmium Ingot 99.99%min Real-Time Domestic
Prices in Baltimore, USA
Europe Cadmium Ingot Pricing Analysis Cadmium Ingot 99.99%min FD Rotterdam Domestic Prices, Netherlands Weekly Price Update on Cadmium Ingot 99.99%min Real-Time Domestic
Prices in Rotterdam, Netherlands

Note: In assessments structured as CIF [Importing Port] (Exporting Country), the country mentioned in brackets indicates the primary origin of supply (exporting country), while the named port refers to the destination port in the importing country. Other Incoterms (FOB, FD, EXW, etc.) should be interpreted in accordance with standard international trade definitions.

Cadmium Ingot Price Trend Q1 2026

In Q1 2026, the global Cadmium ingot market exhibited a declined trend across all key countries tracked, reflecting persistent weakness in both primary demand channels and an oversupplied pricing environment that carried over from Q4 2025.

Cadmium’s fortunes are closely tied to the performance of nickel-cadmium battery demand, solar panel manufacturing, and surface coating applications, all of which saw subdued activity during the quarter amid broader industrial caution and the continued substitution of cadmium-containing technologies with alternative chemistries.

The transition toward lithium-ion battery systems at the expense of nickel-cadmium technology has been an enduring structural headwind for cadmium pricing, and Q1 2026 was no exception. On the supply side, cadmium continues to emerge as a byproduct of zinc smelting, meaning that output does not contract in response to weaker demand and the resulting oversupply persists.

European markets experienced moderate declines, while India recorded the steepest fall, driven by both import cost adjustments and weaker downstream demand from electroplating and pigment industries.

Macro uncertainty and cautious inventory management by buyers across all regions reinforced the bearish sentiment. Taken together, the global Cadmium market in Q1 2026 reflected structural oversupply, shifting end-use technology trends, and weak demand sentiment across all tracked geographies.

China: Cadmium Ingot Domestically Traded prices EX-Shanghai, China; Grade-Purity:99.99%min

In Q1 2026, Cadmium ingot prices in China declined by approximately 5.49% compared with Q4 2025, extending the softer market trend that had emerged during the latter half of 2025.

The Cadmium ingot price trend in China remained under pressure throughout most of the quarter, largely due to weak demand from the nickel-cadmium battery sector as lithium-ion technologies continued to gain market share across consumer electronics and industrial applications.

Demand from the solar energy segment, particularly thin-film photovoltaic applications, also remained insufficient to offset broader weakness. On the supply side, cadmium availability stayed ample as zinc smelting operations maintained stable production rates without major curtailments among domestic producers.

Electroplating and pigment manufacturers also adopted cautious procurement strategies, limiting purchases to immediate operational needs. However, in March 2026, Cadmium ingot prices in China rebounded by around 4.82% month-on-month, likely supported by technical buying activity and short-covering rather than a significant shift in underlying demand fundamentals.

Cadmium Ingot Domestically Traded prices FD Rotterdam, Netherlands; Grade- Purity:99.99%min

A moderate decrease in cadmium ingot prices in the Netherlands has been observed in Q1-2026, with prices dropping roughly 3.04% from Q4-2025 due to weakening global demand and ongoing structural weakness in the European end-use sectors.

The Cadmium ingot price trend for the Netherlands has been moderately-downward during Q1, although disciplined inventory management and Netherlands being a major European distribution hub help to mitigate larger price declines.

Demand for cadmium from pigment, coating, and specialty alloy end-use sectors was subdued due to manufacturers continuing to implement cautious purchasing strategies and maintain lean inventories based upon uncertainty with downstream conditions.

Environmental regulations in the EU (such as prohibitions related the RoHS regulations) continue to suppress overall market demand for cadmium-containing applications, thereby creating negative conditions for the broader cadmium market.

As a consequence, many traders and distributors have generally limited purchases to meet immediate operating requirements and have refrained from speculative accumulation of inventory in anticipation of further declining prices.

As of March 2026, cadmium ingot prices in the Netherlands are flat compared to February 2026 but suggest that the March price represents a temporary price floor following the quarter-end price declines.

USA: Cadmium Ingot Domestically Traded prices Del Baltimore, North America; Grade- Purity:99.99%min

As of first quarter of year 2026, cadmium ingot prices have dropped by about 2.87% from last quarter of year 2025. The weakness in the downstream demand for cadmium-based products has also been impacted by ongoing regulatory pressures related to cadmium applications.

During the entire quarter, the price for cadmium has been slightly bearish because of continued disincentives due to the enforcement of environmental regulations prohibiting usage of cadmium in consumer products, industrial coatings, and battery technologies.

The semiconductor industry and pigment manufacturers provide some level of support for cadmium pricing; however, they have not been able to counteract the overall weakness in the total market. Due to continued declines in global cadmium prices, importers have adopted very conservative sourcing strategies, creating further disincentives for building inventories.

Finally, further weakening of long-term demand for cadmium is expected as manufacturers, and consumers continue to transition from using nickel/cadmium batteries to using lithium-based alternatives. For the month of March 2026, U.S. Cadmium ingot prices remained largely unchanged from the prior month indicating there may be some relative stabilizing effect at these lower price levels.

India: Cadmium Ingot Domestically Traded prices EX- Mumbai, India; Grade- Purity:99.99%min

In Q1 2026, Cadmium ingot prices in India declined sharply by approximately 11.61% compared with Q4 2025, marking the steepest quarterly drop among the tracked markets. The Cadmium ingot price trend in India remained under significant pressure throughout the quarter, driven by weak demand across electroplating, pigment, and nickel-cadmium battery manufacturing sectors.

Buyers maintained lean inventories and reduced spot procurement activity considerably, leading to lower import volumes and subdued market liquidity. Currency fluctuations involving the Indian rupee also affected purchasing behaviour, as higher effective import costs discouraged aggressive restocking and further weakened transaction activity.

In addition, growing environmental concerns regarding cadmium toxicity encouraged some manufacturers to explore alternative materials, adding longer-term structural pressure on demand. In March 2026, Cadmium ingot prices in India remained flat month-on-month, indicating that the market had stabilized at lower price levels by the end of the quarter.

Cadmium Ingot Price Trend Analysis: Q4 2025

In Q4 2025, the global Cadmium Ingot (99.99% min) market exhibited a downward trend, with varied regional pressures across major producing and consuming countries. The pricing environment reflected softer demand patterns and stable to slightly elevated supply conditions during the quarter.

While some regions saw minor support from ongoing NiCd battery and stabilizer requirements, most markets experienced price declines due to sufficient industry stocks, seasonal slowdowns, and a shift to cadmium alternatives amid toxicity concerns.

Export linked regions, including the Netherlands, US, and India, faced additional pressure from redirected Chinese supply and trade uncertainties. Environmental regulations in key producing areas, particularly China, constrained output but were insufficient to offset weaker demand.

Overall, market participants adopted cautious buying strategies, resulting in moderate price corrections while year-over-year levels remained relatively firm.

China: Cadmium Ingot Domestically Traded prices EX-Shanghai, China; Grade-Purity:99.99%min

According to Price-Watch™, In Q4 2025, the Cadmium Ingot (99.99% min) price trend in China showed a modest decline of 0.36% compared to Q3 2025, while the overall pricing trend remained relatively stable. Market sentiment was moderately cautious, as steady but selective demand from pigments, alloys, and battery sectors persisted at balanced levels.

Upstream production conditions at zinc smelters where cadmium is a byproduct remained controlled and within regulated limits, supporting a stable supply environment. Producers maintained disciplined production schedules, ensuring adequate availability while avoiding sharp price movements.

Cadmium prices in China declined by 4.46% in December 2025, reflecting temporary inventory builds, softer battery sector offtake, and early Q4 spot market fluctuations. Limited export support from global markets, amid subdued minor metal demand and regulatory oversight, also contributed to the year-end weakness.

Overall, the China Cadmium Ingot (99.99% min) market demonstrated controlled fundamentals with a mild quarterly correction but retained moderate resilience heading into early 2026.

Netherlands: Cadmium Ingot Domestically Traded prices FD Rotterdam, Netherlands; Grade- Purity:99.99%min

In Q4 2025, Cadmium Ingot (99.99% min) prices in the Netherlands declined sharply by 7.15% compared to Q3 2025, reflecting a combination of regional demand softness and broader market pressures.

Market sentiment was cautious as weak downstream consumption from battery, electroplating, and specialty alloy sectors reduced immediate buying interest. Upstream production from European zinc smelters remained relatively stable, contributing to a moderate oversupply in the local market.

Prices further declined by 2.88% in December 2025, influenced by seasonal slowdowns in industrial activity, cautious year-end procurement strategies, and redirected exports from Asia saturating local availability.

Regulatory oversight and transportation constraints in the EU limited volatility, preventing more extreme corrections. Overall, the Netherlands Cadmium Ingot (99.99% min) market reflected a sharp quarterly correction driven by demand weakness and modest supply imbalances, while maintaining moderate resilience heading into early 2026.

USA: Cadmium Ingot Domestically Traded prices Del Baltimore, North America; Grade- Purity:99.99%min

In Q4 2025, Cadmium Ingot (99.99% min) prices in the Baltimore region of the US declined by 5.23% compared to Q3 2025, reflecting moderation in regional demand and broader market pressures. Market sentiment was cautious as weak downstream consumption from battery manufacturing, electroplating, and specialty alloy sectors limited immediate buying interest.

Upstream production from US zinc smelters remained relatively stable, contributing to a moderate oversupply in the local market. Prices further declined by 3.21% in December 2025, influenced by import delays and global trade disruptions, seasonal slowdowns in downstream sectors like metal finishing and pigments, and cautious year-end procurement strategies.

Tight fundamentals persisted due to regulatory limits on refining and environmental oversight, while consistent offtake in batteries and industrial applications prevented steeper drops.

Overall, the Baltimore Cadmium Ingot (99.99% min) market reflected a moderate quarterly correction driven by demand weakness and temporary oversupply pressures, while maintaining underlying stability heading into early 2026.

India: Cadmium Ingot Domestically Traded prices EX- Mumbai, India; Grade- Purity: 99.99%min

In Q4 2025, Cadmium Ingot (99.99% min) prices in India declined by 4.49% compared to Q3 2025, reflecting moderation in domestic demand and broader market pressures. Market sentiment remained cautious as downstream consumption from battery manufacturing, electroplating, and pigments softened, driven by end of year inventory adjustments and subdued industrial activity.

Domestic production from Indian zinc smelters remained relatively stable, contributing to a moderate supply availability in the market. Prices further eased in December 2025 by 8.05%, influenced by seasonal import delays, logistical bottlenecks port congestion, and cautious year-end procurement, which temporarily flooded spot markets and weighed on prices.

Consistent offtake from batteries and coatings, along with global supply tightness from Chinese smelter curbs, partially offset the declines, preventing sharper drops.

Overall, the Indian Cadmium Ingot (99.99% min) market experienced a moderate quarterly correction driven by demand softness and temporary oversupply pressures, while maintaining underlying resilience heading into early 2026.

In Q3 2025, the global Cadmium Ingot (99.99% min) market exhibited a generally downward trend, with varied regional dynamics across major producing and consuming countries. The pricing environment reflected softer demand pressures and stable to slightly elevated supply conditions during the quarter.

China and India experienced moderate declines due to weaker industrial demand, sufficient inventories, and seasonal slowdowns, while import-dependent regions such as the Netherlands and the USA faced sharper drops driven by oversupplied shipments, trade uncertainties, and cautious year-end procurement.

Environmental regulations in key producing regions, particularly China, limited output but were insufficient to offset the overall softening. Market participants adopted cautious buying strategies, resulting in moderate price corrections. Overall, the global cadmium Ingot (99.99%min) market reflected downward fundamentals with differentiated regional momentum entering Q4 2025.

China: Cadmium Ingot Domestically Traded prices EX-Shanghai, China; Grade- Purity:99.99%min

In Q3 2025, Cadmium Ingot (99.99% min) prices in China declined by 4.49% compared to Q2, reflecting weak downstream demand and persistent supply-side pressure through most of the quarter.

Market sentiment remained cautious as Nickel Cadmium (NiCd) batteries continued losing share to lithium-ion alternatives, reducing cadmium offtake, while slower procurement from Cd-Te solar panels, electroplating, pigments, and PVC stabilizers further softened demand amid subdued real estate and construction activity.

On the supply side, steady zinc smelting operations kept cadmium availability elevated due to its byproduct nature, resulting in surplus material and inventory overhang. Weak export demand from key regions such as the EU and Southeast Asia, along with currency and trade adjustments, further limited overseas absorption.

Seasonal stock accumulation in Hunan and Guangdong reinforced the bearish tone. However, prices rebounded sharply in September by 9.97% on short-term restocking and improved spot inquiries, though the overall Q3 trend remained negative despite the late-quarter recovery heading into Q4.

Netherlands: Cadmium Ingot Domestically Traded prices FD Rotterdam, Netherlands; Grade- Purity:99.99%min

In Q3 2025, Cadmium Ingot (99.99% min) prices in the Netherlands declined from Q2 levels amid structural demand erosion and mounting regulatory pressure across Europe, as stringent EU RoHS and REACH compliance frameworks accelerated cadmium phase outs in electronics, plastics, and battery applications, reducing procurement volumes. The shift away from Nickel Cadmium (NiCd) batteries toward lithium ion and NiMH alternatives further weakened demand, while contractionary Eurozone PMI trends weighed on consumption across electroplating, alloys, and pigments.

Soft construction activity and reduced building permits also dampened demand for cadmium-based pigments and PVC stabilizers. Meanwhile, lower Chinese export offers pressured Rotterdam and Amsterdam spot markets, with elevated warehouse inventories prompting traders to discount material. Prices fell further in September by -2.73%, reflecting persistent inventory overhang, subdued late-summer industrial activity, and cautious downstream buying, leaving the market under clear bearish pressure heading into Q4.

USA: Cadmium Ingot Domestically Traded prices Del Baltimore, North America; Grade- Purity:99.99%min

In Q3 2025, Cadmium Ingot (99.99% min) prices in the Baltimore, USA region declined by 9.05% compared to Q2, reflecting structural demand erosion, tightening environmental compliance requirements, and global price transmission effects. Market sentiment remained bearish as federal and state-level regulations across the Mid-Atlantic corridor increased scrutiny on cadmium usage, prompting manufacturers to scale back procurement. Demand weakened further due to the ongoing shift away from Nickel-Cadmium (NiCd) batteries toward lithium-ion platforms, while reduced activity across electroplating, specialty alloys, electronics, pigments, coatings, and plastics stabilizers encouraged inventory destocking rather than fresh buying.

Softer construction activity amid elevated interest rates also weighed on PVC stabilizer and coatings demand. Globally softer Chinese and European benchmarks, combined with a relatively strong U.S. dollar, enabled importers to renegotiate contracts and undercut domestic pricing, while elevated inventories at Port of Baltimore warehouses forced traders to discount material. Steady by-product supply from zinc smelting prevented any supply tightening, and prices slipped further in September by 0.52% amid persistent inventory overhang and cautious quarter-end procurement, leaving the market under clear pressure heading into Q4.

India: Cadmium Ingot Domestically Traded prices EX- Mumbai, India; Grade- Purity:99.99%min

In Q3 2025, Cadmium Ingot (99.99% min) prices in the Indian market declined modestly by 1.48% compared to Q2, reflecting a comparatively contained correction versus sharper global declines and highlighting India’s relatively buffered market structure. The softening was mainly driven by spillover from weaker Chinese export prices, though transmission into domestic spot markets remained limited due to India’s more insulated trading dynamics. Subdued demand from electroplating, pigment, and PVC stabilizer sectors amid seasonal slowdowns and margin pressures added mild downward pressure.

While India’s NiCd battery segment remains more active than in Western markets, gradual pilot shifts toward alternative chemistries contributed to incremental demand softening. However, continued reliance on cadmium-intensive industries, a less aggressive regulatory framework, and rupee depreciation raising landed import costs helped prevent a steeper fall.

Prices eased further in September by 1.12% due to cautious procurement and alignment with softer Asian offers, though steady demand from thin-film solar applications provided partial support. Overall, Q3 reflected a globally aligned but locally moderated decline heading into Q4.

According to Price-Watch™, in Q2 2025, the global cadmium Ingot (99.99%min) market displayed a predominantly downward to stable trend across major regions, reflecting softer downstream demand and balanced to adequate supply conditions.

In China, cadmium prices declined sharply during this period, primarily due to weak procurement from nickel-cadmium battery and pigment manufacturers, alongside sufficient availability from zinc smelter by-product output.

Although environmental regulations continued to influence metal production, steady zinc refining activity ensured adequate cadmium supply, while cautious buying sentiment and limited export momentum further pressured prices.

In the Netherlands, prices registered a slight decrease, driven by moderate downstream demand from coatings, specialty alloys, and battery component sectors, coupled with stable import inflows and comfortable inventories across European warehouses.

Meanwhile, in the USA, prices remained largely stable with a marginal downward bias, supported by steady consumption from electroplating and industrial applications, balanced import supply, and restrained restocking activity amid cautious market sentiment.

These regional movements indicate a quarter characterized by subdued demand fundamentals and sufficient material availability, limiting upward price momentum across the global cadmium Ingot (99.99%min) market during Q2 2025.

According to PriceWatch, In Q2 2025, the Indian Cadmium Ingot (99.99% min) prices declined by approximately 0.37% compared to Q1 2025. The modest dip was primarily due to softer domestic demand following fiscal-year-end cycles, coupled with higher import volumes that increased market availability. Traders and downstream processors carried over inventory from Q1, which reduced urgency for further purchases and put downward pressure on spot prices.

Early in the quarter, prices saw minor fluctuations driven by temporary logistics delays and shipment arrivals, but these did not significantly alter the overall downward trend. Additionally, the abundant imports and relative stability of global cadmium supply reinforced the softening.

Asia-Pacific markets reflected mixed trends influenced by production and environmental policies. Looking ahead, Indian cadmium prices are expected to remain sensitive to import volumes, downstream industrial demand, and global supply dynamics, with buyers likely to adopt cautious procurement strategies amid ongoing market uncertainty.

In Q1 2025, the global cadmium Ingot (99.99%min) market showed a mixed to slightly firm trend, influenced by regional supply dynamics and cautious downstream demand recovery.

In China, prices rose modestly, supported by controlled output from zinc smelters, environmental monitoring, and operational discipline, while steady procurement from battery and pigment manufacturers strengthened market sentiment.

Tight domestic supply and balanced export flows contributed to firm pricing momentum. In the Netherlands, prices edged slightly lower amid moderate trading activity and ample European warehouse inventories.

Demand from coatings, stabilizers, and specialty chemicals sectors remained stable but lacked strong growth, while competitive imports and cautious buying kept prices under pressure. In the USA, prices softened marginally due to restrained procurement and adequate inventories, with steady but subdued demand from electroplating and specialty battery segments.

Overall, Q1 2025 reflected regional divergence: modest firmness in China, and slight corrections in Europe and the USA amid balanced supply-demand fundamentals and cautious industrial buying.

In Q1 2025, the Indian Cadmium Ingot (99.99% min) market witnessed a modest decline of approximately 0.73% from the previous quarter. This slight decrease was driven by seasonal softness in domestic industrial demand, particularly following year-end slowdowns, as buyers delayed major procurement.

Steady imports and smooth supply chains, coupled with limited domestic production, maintained sufficient availability in the market, preventing sharper price movements. Globally, cadmium supply remained stable as zinc refining operations faced no significant disruptions, keeping by-product output consistent.

Regional dynamics saw Asia-Pacific prices remain moderate due to steady battery and electronics demand. Overall, market participants remained cautious, closely monitoring zinc output, environmental regulations, and evolving industrial demand for potential future price adjustments.

Cadmium Ingot Price Trend Analysis: Q4 2024

In Q4 2024, the global cadmium Ingot (99.99%min) market experienced a firm upward trend across major regions with China, the Netherlands, and the United States all recording notable price increases.

The strengthening trend was largely supported by improved downstream demand, tighter effective supply conditions, and year-end procurement activity across key industrial sectors. In China, cadmium prices moved higher amid improved purchasing from battery manufacturers and cadmium telluride (CdTe) solar producers.

Stable to firm zinc smelter operating rates influenced cadmium output, but controlled spot availability and renewed buying interest supported stronger negotiations. Additionally, improved export inquiries and tighter inventories in certain trading hubs contributed to upward price momentum.

In the Netherlands, prices increased as European buyers returned to the market with restocking requirements toward the year-end. Firm import offers, elevated logistics and compliance costs, and limited regional refining capacity supported higher transaction levels.

Stable demand from specialty applications, combined with cautious but consistent procurement, reinforced the positive pricing environment. Similarly, the United States recorded the strongest increase among the three regions, driven by steady demand from photovoltaic, aerospace coating, and specialty alloy sectors.

Recycling flows remained stable but were insufficient to offset the stronger procurement cycle, allowing prices to trend upward. Overall, the quarter reflected synchronized strength across global cadmium Ingot (99.99%min) markets, where improving industrial sentiment, restocking activity, and controlled supply dynamics collectively contributed to firm price growth.

In Q4 2024, the Indian Cadmium Ingot (99.99% min) market experienced a moderate upward movement, with prices rising by approximately 1.86% from the previous quarter. This increase was driven by a gradual uptick in domestic demand from battery manufacturing, electronics plating, and metallurgical applications, as industrial activity picked up ahead of year-end procurement cycles. Buyer restocking following the relatively stable Q3 further supported demand, while imports from China and other key suppliers faced minor logistical delays and slightly constrained availability, tightening short-term domestic supply. Global cadmium production remained steady, providing a supportive backdrop but not enough to offset the increased domestic consumption. Market participants remained cautiously optimistic, monitoring the evolving supply-demand dynamics for potential adjustments in early 2025.

In Q3 2024, the global cadmium Ingot (99.99%min) market showed a mixed trend but generally soft trend across major regions. China and the USA experienced noticeable declines as steady zinc smelter output, adequate inventories, and cautious downstream demand from battery and CdTe solar sectors limited price momentum. Moderate export activity and controlled production further contributed to downward pressure.

In the Netherlands, prices edged slightly higher, supported by higher environmental compliance costs, limited regional refining capacity, and continued import reliance. Trading activity remained measured, with subdued European industrial sentiment restraining gains.

In the USA, balanced domestic supply and cautious purchasing from specialty sectors, combined with recycling flows, applied additional downward pressure. Overall, the quarter reflected region-specific fundamentals, where steady supply conditions and conservative procurement shaped divergent cadmium pricing trends globally.

In Q3 2024, the Indian Cadmium Ingot (99.99% min) market remained stable, showing no significant price change (0%) from the previous quarter. This price stability reflected a balance between steady domestic demand and adequate supply. Industrial consumption in battery manufacturing, electronics plating, and metallurgical applications remained consistent, while buyer restocking had largely normalized after the strong activity in Q2. Imports from China and other key suppliers arrived without disruption, maintaining sufficient short-term availability. Meanwhile, global cadmium production continued at steady levels, preventing any supply shocks that could influence prices. Market participants observed the equilibrium cautiously, as domestic demand and import flows held in balance, leading to a temporary plateau in price movements.

In Q2 2024, the global cadmium Ingot (99.99%min) market showed a moderate to strong upward trend across major regions. In China, prices surged as zinc smelter maintenance and controlled output tightened by-product availability, while demand from CdTe solar panels and battery applications supported buying.

Export inquiries and improved industrial activity further reinforced the upward trend. In the Netherlands, prices rose due to higher import replacement costs, firm global offers, and Europe’s reliance on imports, while steady demand from specialty alloys, coatings, and photovoltaic sectors sustained interest.

Regulatory compliance costs and limited spot liquidity added support. The USA saw strong price gains, driven by tighter global supply flows, robust industrial demand, and steady consumption in aerospace coatings, pigments, and photovoltaic applications.

Adjusted trade flows and moderate domestic availability further supported higher prices. Overall, Q2 reflected synchronized global strengthening, led by supply-side tightness, stronger end-use demand, and rising metal market confidence.

In Q2 2024, the Indian Cadmium Ingot (99.99% min) market showed a notable upward movement, with prices rising by approximately 3.46% from the previous quarter. This increase was supported by a gradual rebound in domestic demand from battery manufacturing, electronics plating, and metallurgical applications, as buyers began restocking inventories after year-end slowdowns. Imports from China, the primary global supplier, experienced minor logistical delays and limited early-quarter export availability, which temporarily tightened domestic supply and allowed prices to hold firmer. Steady global cadmium production helped moderate the overall trend, while market participants remained cautious yet optimistic, closely monitoring supply-demand dynamics for potential further adjustments in the coming quarters.

In Q1 2024, the global cadmium Ingot (99.99%min) market showed mixed trend pricing trends across key regions. China saw a slight decline as cautious downstream procurement and steady zinc smelter output limited upward momentum, while environmental controls continued to influence smelter activity.

Moderate demand from battery and cadmium telluride (CdTe) sectors, along with measured export flows, further restrained prices. In the Netherlands, prices edged higher amid firm offers, higher regulatory and environmental compliance costs, and Europe’s reliance on imported material.

Stable procurement from specialty applications and limited spot availability supported a modest increase despite moderate trading volumes. The United States recorded slight gains, driven by steady demand from aerospace coatings and photovoltaic industries.

Adjusted trade flows, balanced domestic supply, and recycling activity-maintained market stability. Overall, the quarter reflected a regionally fragmented market, where supply fundamentals, regulations, and trade patterns shaped divergent cadmium pricing.

In Q1 2024,

the Indian Cadmium Ingot (99.99% min) market experienced a slight decline of approximately 0.38% from the previous quarter. This modest drop was primarily driven by seasonally soft domestic demand following year-end industrial slowdowns, particularly in battery manufacturing, electronics plating, and metallurgical applications. Imports, mainly from China, arrived on schedule with no significant supply disruptions, keeping availability adequate and putting mild pressure on domestic prices. Global cadmium production, largely as a by-product of zinc refining, remained steady, providing additional stability for the market. Meanwhile, gradual adoption of alternative battery technologies and limited short-term demand growth contributed to the downward trend. Despite the small decrease, market participants remained attentive to supply-demand shifts and potential price adjustments in the subsequent quarters of 2024.

Technical Specifications of Cadmium Ingot Price Trends

Product Description

A Cadmium ingot is a solid block of purified cadmium metal that has been melted and cast into a standardized shape for storage, transport, and industrial use. Cadmium ingots are typically of high purity to meet requirements for battery production, electroplating, pigments, and alloys.

The metal has a bluish-white appearance and is soft and malleable at room temperature. These ingots provide a convenient form for manufacturers to melt, alloy, or process cadmium safely and efficiently in various applications, including nickel-cadmium batteries and corrosion-resistant coatings. The material also finds use in phosphors and electronic components requiring stable metallic properties. Cadmium is classified as hazardous and must be handled and stored in accordance with strict safety regulations.

Identifiers and Classification:

HS Code – 81072000


Cadmium Ingot Synonyms:

  • Cadmium Metal 4N


Cadmium Ingot Global Trade and Shipment Terms

  • Quotation Terms (Product & Country Specific): 5-10 MT
  • Packaging Type (Product & Country Specific): Wooden Case


Incoterms Referenced in Cadmium Ingot Price Reporting

Shipping Term  Location  Definition 
EX-Shanghai  Shanghai, China  Domestically Traded Cadmium Ingot price in China 
FD Rotterdam  Rotterdam, Netherlands  Domestically Traded Cadmium Ingot price in Netherlands 
Del Baltimore  Baltimore, North America  Domestically Traded Cadmium Ingot price in North America 
EX-Mumbai  Mumbai, India  Domestically Traded Cadmium Ingot price in India 

*Quotation Terms refers to the quantity range specified for the Cadmium Ingot being quoted or offered in a commercial transaction.

**Packaging Type refers to standard packaging size commonly used for Cadmium Ingot packing, ease of handling, transportation, and storage in industrial and commercial applications.

Key Cadmium Ingot Manufacturers

Zhuzhou Smelter Group Co., Ltd. 
Korea Zinc Co., Ltd. 
Nyrstar NV 
Huludao Zinc Industry 
Changsha Santech Materials Co., Ltd. 
Heeger Materials 

Cadmium Ingot Industrial Applications

Historically, several events have caused significant fluctuations in Cadmium Ingot prices

  • US-China Trade Tensions and Inventory Fluctuations (2018–2022): Tariff escalations and periodic stockpiling by producers caused sharp, short-term price swings disconnected from underlying demand.
  • Mine Closures and Supply Disruptions (2015–2016): Temporary shutdowns at major zinc mines, such as Century and Lisheen, tightened cadmium supply, creating upward price pressure.
  • EU RoHS Directive & Global Environmental Regulations (2003–2010s): Restrictions on cadmium in electronics, coatings, and plastics progressively dampened industrial demand and weighed on prices.
  • Global Financial Crisis (2008–2009) & COVID-19 Pandemic (2020): Industrial slowdowns and lockdowns triggered short-term price collapses and volatility.
  • NiCd Battery Boom and Bust (1980s–1990s): Rising demand for nickel-cadmium batteries supported prices, while the later shift to lithium-ion and NiMH batteries caused a long-term structural decline in cadmium demand.
  • Chinese Production Changes (1980s–2010s): As the dominant global producer (a byproduct of zinc refining), any shifts in Chinese zinc output, environmental crackdowns, or export policies directly impacted cadmium supply and prices.

 

These events highlight cadmium’s sensitivity to supply-side shocks, evolving industrial demand, regulatory pressures, and geopolitical or trade interventions, emphasizing the need for careful monitoring of both global production and consumption trends.

Why Price Watch™?

Price Watch™ is your trusted resource for tracking global cadmium ingot price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the cadmium ingot market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, Price Watch™ keeps you fully informed of market dynamics.

In addition, Price Watch™ provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With Price Watch™, you gain a competitive edge in understanding all the elements that influence cadmium ingot prices worldwide. Stay ahead of the curve with Price Watch’s™ reliable, accurate, and timely cadmium ingot market data.

Track Price Watch's™ cadmium ingot price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.

Cadmium Ingot Market Price Trend published by Price Watch™ reflect prevailing spot market conditions, derived from independent research, verified trade inputs, and proprietary market intelligence as of the publication date. Prices are published on the specified Incoterm and represent indicative base market levels, exclusive of applicable taxes, VAT, duties, tariffs, and other statutory charges. Actual transaction values may vary depending on volume, credit terms, contractual structure, and other negotiated conditions. Market prices are inherently subject to volatility, liquidity dynamics, regulatory changes, and evolving trade activity. The information provided is for reference and benchmarking purposes only and does not constitute an offer, recommendation, or guarantee of transactional outcomes. Users should exercise independent commercial judgment and assess their specific contractual, regulatory, tax, and application requirements before making business decisions. Price Watch™ assumes no liability for decisions taken based on this information.

A Cadmium ingot is a solid block of refined cadmium metal used in batteries, electroplating, pigments, and alloys. Its price matters because cadmium is rare and toxic, so cost fluctuations directly affect manufacturing expenses and the market for cadmium-dependent products. Price-Watch™ tracks these prices to help businesses and consumers understand and stay updated with the market trends.

Cadmium ingot prices vary by region and market conditions. Prices are typically quoted per metric ton or per pound and fluctuate based on global supply, import/export flows, industrial demand, and currency exchange rates. 𝐏𝐫𝐢𝐜𝐞 𝐖𝐚𝐭𝐜𝐡™ provides real-time price assessments across different global markets to help buyers and sellers make informed decisions.

Prices fluctuate due to changes in Chinese production, environmental regulations, seasonal smelter maintenance, feedstock availability, and demand from batteries, electronics, coatings, and pigments. Exchange rates, logistics costs, and global economic conditions also influence trends.

Major consumers include battery manufacturing, electronics, metallurgy, pigments & coatings, and research/specialty materials. Price-Watch™ analyses demand patterns across all these industries.

Cadmium is primarily obtained as a by-product of zinc smelting, with smaller contributions from lead and copper refining. High-purity 99.99% cadmium ingots are produced through refining methods such as vacuum distillation, electrolytic refining, and chemical precipitation.

China is the world’s largest exporter, followed by Japan, Germany, Canada, and Belgium. Export volumes vary with domestic policies, environmental regulations, and international demand. Price-Watch™ tracks production levels, export flows and trade patterns to help businesses understand global supply chains and identify sourcing opportunities.

Supply generally meets demand, but disruptions may occur due to smelter shutdowns, environmental restrictions, or spikes in industrial consumption. Price-Watch™ monitors these supply-demand imbalances to alert the market about potential shortages or surpluses.

Cadmium ingots are graded by purity: industrial grade (~99%), high-purity 99.99%, and ultra-pure specialty forms. Higher-purity grades cost more due to extra refining. Price-Watch™ provides separate price assessments for each grade to ensure market transparency.

When demand rises, for example from battery or electronics production, prices typically climb. Suppliers may prioritize certain customers, and lead times can extend. Price-Watch™ captures these market dynamics in real-time.

Refining cadmium is energy intensive. Rising electricity, fuel, or chemical costs often get passed on to buyers. This is why prices in regions with cheaper electricity tend to be lower, a correlation that Price-Watch™ analyses in its price assessments & market reports.

Regional variations arise from import dependency, shipping costs, currency fluctuations, and local demand. Price-Watch™ tracks prices across all major regions to highlight these differences.

Forecasts depend on production capacity, Chinese export policies, industrial demand, and macroeconomic factors. Price-Watch™ regularly publishes detailed forecasts that project price movements for the next 12 months based on comprehensive analysis of supply additions, demand growth in key industries, seasonal patterns, and macroeconomic indicators. Our forecasts help businesses anticipate market conditions and plan accordingly.

Yes. Accurate forecasts allow businesses to optimize purchasing, negotiate contracts, and manage inventories. If Price-Watch™ forecasts predict a price increase in three months, you might choose to stock up now or lock in long-term contracts at current rates, potentially saving thousands of dollars.

Events such as Chinese export restrictions, smelter shutdowns, environmental regulations, or economic shocks can cause supply shortages and price volatility. Price-Watch™ provides timely alerts when such events affect the market.

Price-Watch™ collects data from manufacturers, distributors, and buyers worldwide to publish regular price assessments, market reports, and forecasts. Our transparent methodology and comprehensive coverage make us a trusted source for understanding fair pricing and market trends in the Cadmium Ingot 99.99%min industry.

Access Real-Time Cadmium Ingot Price Trends
Access Real-Time Cadmium Ingot Price Trends