Up over 50%! Shipping disruptions and high demand have caused a sharp widening of the supply and demand gap for industrial gases.

According to a report from Caixin, industry insiders say that helium spot prices have surged, rising over 50%. The procurement departments of semiconductor manufacturers such as Samsung Electronics, SK Hynix, and East High-tech are checking the supply status and price fluctuations of key materials daily to prevent production interruptions.

Recently, the escalation of conflict in the Middle East has hindered shipping in the Strait of Hormuz, impacting the global helium supply system. Data shows that Qatar, as the world’s second-largest helium producer, supplies about one-third of the global helium, but relevant facilities have been damaged during the U.S.-Iran conflict, forcing helium exports to be interrupted, leading to a doubling of helium spot prices, with no hope of “filling the production gap” in the foreseeable future.

According to the U.S. Geological Survey, global helium supply is highly concentrated, with the U.S., Qatar, and Russia accounting for over 80% combined. However, U.S. production primarily meets domestic demand, while Russia’s supply has significantly declined due to sanctions and insufficient investment. Qatar’s disruptions have directly caused a sharp increase in the global helium supply-demand gap.

Helium is a key raw material for semiconductor manufacturing, accounting for 21% of total global helium demand, and is used to create an ultra-clean inert environment in the chip manufacturing process, with no viable substitutes currently available.

Data from the Korea Customs Service indicates that over 60% of South Korea’s helium relies on imports from Qatar (Japan’s dependency is about 20%). Semiconductor companies such as Samsung Electronics and SK Hynix have initiated a daily inventory checking mechanism. If supply interruptions exceed 30 days, priority may be given to AI chip production capacity, leading to a reduction in consumer-grade storage chip output, which is likely to drive up global chip prices.

Looking ahead, global helium demand was originally growing at a rate of 5% to 7% per year, and with the expansion of the artificial intelligence-related manufacturing industry, this growth rate may continue to increase by 2030. Institutions predict that the global industrial gas market will reach 17.3 trillion yuan by 2033.

Specifically in the A-share market, under the dual stimulation of policy support and supply shortages, the industry’s performance growth is highly certain, and the industrial gas sector is expected to see valuation increases. Companies with core competitiveness in helium localization and the domestic substitution of electronic special gases, benefiting from changes in the industry supply-demand landscape and policy support, can be of interest. (Guangda Securities WeChat News)