Few excerpts from annual report of Iofina, another Iodine chemical company based out of US.
"Iodine Prices
Since the iodine price lows of early 2017, prices steadily increased through early 2020, reaching $35-37/kg. During the second half of 2020, as global economies contracted, so did the demand for iodine, resulting in prices reducing slightly. Iodine prices began 2021 at approximately $32.5-36/kg, which was similar to where prices were pre-pandemic in early 2020 and ended the year at $50/kg after a significant increase in global demand for iodine. Leading the increase for iodine were human health applications such as povidone iodide (PVPI) and X-ray contrast imaging agents. Additionally, the recent
demand for potassium iodide (KI) pills, following the Russian invasion of Ukraine, for the use of
protecting humans from radioactive exposure has been reported by many news outlets. The Company believes this demand for KI will only have a minor impact on the demand for iodine due to the low amount of iodine needed for protection. Currently iodine prices are trending higher in a tight supply market with spot pricing now at $60/kg and above. The last time spot prices for iodine were above $60/kg was June 2013. Iofina now expects iodine prices to remain steady or slowly increase in 2022 due to strong global demand and environmental and geopolitical risks in Chile."
Overall the company expects good traction in Iodine demand outpacing supply and high iodine prices to drive the growth. And they does not believe the demand for Iodine due to ongoing war to be of significant impact as the amount needed for radiation protection is very low.
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