AI Computing Power + Satellite Photovoltaic 'Dual-Wheel Drive': Strategic Metal Germanium Faces Value Revaluation

English summary

### AI Computing Power + Satellite Photovoltaic 'Dual-Wheel Drive': Strategic Metal Germanium Faces Value Revaluation Time: 2026-07-31 15:25:45 Content: Germanium prices, driven by the widening supply-demand gap, have entered a long-term upward channel. On the supply side, production capacity is rigidly constrained by resources, production, and policies; on the demand side, two high-prosperity tracks, optical fiber communication and satellite photovoltaic, drive growth, and the supply-demand mismatch continues to intensify. According to SMM statistics, global primary germanium production in 2026 is 190-210 tons, demand is 230-250 tons, the gap reaches 40-50 tons, and social inventory is only over 30 tons. Germanium ingot prices have strongly reversed since March, reporting 23,750 yuan/kg as of July 22, a year-to-date increase of about 75.9%; germanium dioxide rose about 85.8%. According to SMM research, smelters generally are reluctant to sell and support prices. Germanium accounts for 60% of applications in optical communication and satellite photovoltaic, and is a 'AI computing power + space energy' metal. With its excellent refractive index control and radiation resistance, germanium has become a key material for AI data center optical interconnection and low-orbit satellite photovoltaic systems. ...