29 October 2026
Germanium prices nearly double in 12 months
Key insights from this briefing
What is the Germanium price?
The Germanium price reached US$3,887.85/kg in October 2026, according to Critical Minerals Platform (CMP) Verified Pricing, an increase of 92.44% over 12 months. This benchmark represents Germanium 4N (99.99% purity), FOB Asia Pacific. Separately, CMP market intelligence indicates that low-volume Germanium 5N (99.999%) transactions in the United States have reportedly reached US$17,000/kg. These US prices are unverified and not directly comparable with the CMP Verified Price. Germanium prices vary by purity, location, transaction size and delivery terms. CMP provides verified Germanium pricing, historical trends and market intelligence across regions.
Why is Germanium important?
Germanium is a strategically important critical mineral essential to defence technologies, thermal imaging, semiconductors, fibre-optic telecommunications and space-based solar cells. Its remarkable optical properties allow infrared radiation to pass through while blocking visible light, making it valuable for thermal-imaging systems that detect heat signatures even in complete darkness. Germanium is primarily recovered as a by-product of zinc processing and certain coal operations, making supply difficult to expand rapidly. China's dominance of global production and refining, combined with export restrictions, creates significant supply-chain risks for Western defence, technology and advanced manufacturing industries.
Excerpt from this briefing's Industry Insight
Industry Insight: The strategic metal that lets you see in the dark
Germanium has a remarkable property. Although it is opaque to visible light, it allows certain infrared wavelengths to pass through. This makes it an important material for thermal-imaging lenses that enable cameras to detect heat signatures, even in complete darkness.
This makes Germanium an important material for thermal-imaging cameras, infrared sensors and military surveillance equipment.
Unlike conventional cameras, thermal imagers detect infrared radiation emitted by objects. Germanium lenses allow this radiation to reach the detector, enabling equipment to identify people, vehicles and other heat sources in complete darkness.
This remarkable property helps explain why Germanium is so important to modern defence technology.