Rare Gas Monthly (Oct 2026): Helium Down Faster, Xenon Off Highs, Krypton Still Weak

1. Market Overview

The average monthly price of bottled helium declined this period, with weak market activity and pressure on manufacturers to move inventory, leading to a continued downward trend in transaction prices. As of October 28th, the mainstream transaction price for bulk bottled (40L, 13.5±0.5Mpa) high-purity helium in China continued to decline, with transactions concentrated at the lower end of the price range. Overall, bottled helium prices continued their downward trend in October, with intermediaries lowering their bulk purchase prices accordingly, and some lower-price negotiations increasing. In East China, manufacturers primarily focused on price reductions to move inventory, resulting in some low-price transactions; in Southwest China, mainstream transactions followed suit, with prices also shifting downwards.

The price of imported and domestically produced high-purity helium in the Chinese market continued its downward trend this period. Gazprom's maintenance shutdown in early October reduced imports, which gradually resumed in late October, but overall supply remained ample. With continued increases in domestic helium production, market prices accelerated their decline. Mainstream ex-factory prices for high-purity helium in the Inner Mongolia and Shaanxi regions continued to fall. Market activity was generally subdued, with downstream buyers largely hesitant to purchase, adopting a wait-and-see approach.

The average price of xenon declined this period, and the transaction focus shifted downwards. The imbalance between supply and demand for xenon has not yet eased, and prices continue their downward trend.

The average price of kryptonite decreased this period, and the transaction focus shifted downwards. Downstream buyers maintained only essential purchases and were cautious about stockpiling. Under pressure, manufacturers and traders offered discounts to secure orders and accelerate the clearing of existing inventory.

The average price of neon gas remained stable this period, while the transaction focus shifted downwards. Neon gas inventory in distribution channels was ample, resulting in a weak trading atmosphere.

2. Market Outlook

The high-purity helium market is expected to continue its downward trend in November 2026, but the decline in domestic helium prices will narrow. On the supply side, imported supplies are secured after Gazprom's maintenance shutdowns resumed, and large-scale domestic helium extraction projects are operating stably, resulting in a relatively ample overall supply. On the demand side, essential consumption from the medical and semiconductor industries provides basic support, but downstream end-users are cautious in their purchasing decisions, making it difficult to provide strong support in the short term. It is expected that the purchase price for imported high-purity helium tubing by intermediaries and the focus of negotiations among distributors will continue to decline; the decline in domestic high-purity helium tubing prices will narrow, and the distribution transaction range will be adjusted downwards at the end of the month. The bulk purchase price of bottled high-purity helium will also decline, and the focus of market negotiations will shift downwards.

Xenon prices may still have room for a slight decline in November. Downstream demand continues to weaken, with most transactions being sporadic, immediate orders. The market lacks positive support, and prices may continue to fall slightly.

The price of krypton gas is expected to continue its downward trend in November. Currently, downstream purchasing enthusiasm is insufficient, and manufacturers and traders are under great pressure to reduce their inventories. Market players are generally offering discounts to compete for orders, accelerate the turnover of goods, and recover funds.

The neon market is expected to remain stable in November. Short-term spot trading is quiet, with supply and demand trending towards equilibrium. Producers and traders are mostly selling close to cost and have no plans for significant price adjustments.