Helium — Geopolitical Conflict Wipes Out 30% of Global Capacity; Prices Soar Over 5× in One Month

THe globalheliummarket is in the midst of an unprecedented supply crisis, triggered by military Conflict in the Middle East that has effectively removed approximately 30% of the world’shelium production capacity. According to multiple industry reports, industrial-grade helium prices have skyrocketed from 50–70 RMB per cubic meter in mid-March to over 300 RMB per cubic meter by mid-April 2026, with further increases expected to surpass 400 RMB/m³ by month-end.

The supply shock originates from disruptions to Qatar’s helium facilities at Ras Laffan Industrial City, which account for roughly one-third of global helium output. Additionally, Russia has imposed temporary helium export controls through the end of 2027, while Iranian threats to close the Strait of Hormuz endanger any remaining shipments from the region. China, which imported 379 metric tons of helium from Qatar in January–February 2026 (down 15.7% YoY), is feeling the strain acutely.

Semiconductor industry impact has been immediate. Helium is used in wafer cooling, plasma etching, and as a carrier gas in various fabrication steps. Leading foundries, including TSMC and SMIC, have activated contingency plans, including inventory drawdowns and supplier diversification. Samsung Electronics and SK Hynix have both signed long-term contracts to secure helium supply.

Medical applications, particularly MRI magnet cooling, are also under pressure. Hospitals have been advised to optimize helium conservation and consider recovery systems.

Price outlook from BOCI Securities suggests that helium tightness will persist for the remainder of 2026, with no near-term resolution in sight. End users should prepare for continued high prices and possible allocation measures.