Iridium trade
Iridium is a rare and valuable mineral commodity produced primarily in South Africa and Russia, where large deposits of platinum group metals (PGMs) are found. Its unique properties make iridium suitable for high-tech applications, including electronics, medicine, and chemical industries. Iridium is used in spark plugs, electrical contacts, circuit boards, surgical instruments, and chemical catalysts due to its high melting point, corrosion resistance, and durability. Iridium is typically extracted from PGM-bearing...
Iridium is a rare and valuable mineral commodity produced primarily in South Africa and Russia, where large deposits of platinum group metals (PGMs) are found.
Its unique properties make iridium suitable for high-tech applications, including electronics, medicine, and chemical industries. Iridium is used in spark plugs, electrical contacts, circuit boards, surgical instruments, and chemical catalysts due to its high melting point, corrosion resistance, and durability.
Iridium is typically extracted from PGM-bearing ores through a series of chemical treatments and refining steps. The metal is often sold in unwrought or powder form, making it versatile for various industrial processes. Trading in iridium involves physical delivery contracts and over-the-counter (OTC) derivatives, with major hubs located in London, New York, Shanghai, and Tokyo.
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Market intelligence
Heraeus Precious Metals GmbH & Co. acquires Canadian recycling firm McCol Metals, expanding its iridium recovery capacity and consolidating operations in St. John's, Newfoundland and Labrador, potentially increasing iridium supply.
The DLA launched its FY 2003 iridium sales program, increasing government procurement of iridium.
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