Current Iridium Prices

The given Iridium prices are compiled from pricing lists from various manufacturers and worldwide metal market data. Iridium prices are updated regularly and are solely for reference.

About Iridium

Iridium

Iridium is a rare and dense metal belonging to the platinum group of metals. It's one of the least abundant elements in Earth's crust but can be found in association with platinum, nickel, and copper ores. It's often obtained as a byproduct of nickel mining.

Iridium is highly corrosion-resistant and has a very high melting point, making it useful in a variety of applications. Its resistance to corrosion makes it valuable in alloys used for items like spark plugs, crucibles, and various electrical contacts. Additionally, its high melting point and resistance to heat make it useful in high-temperature applications such as in the production of crucibles and electrodes for the production of high-quality alloys.

Furthermore, iridium's durability and resistance to chemical attack have led to its use in specialized applications such as in certain scientific instruments, electrical contacts in spark plugs, and in some types of jewelry, particularly when combined with other precious metals. Its unique properties have also made it valuable in certain fields of research, including in electronics and as a catalyst in chemical reactions.

Iridium Origin And Distribution

Iridium is a rare and precious metal with a fascinating origin. It is believed to have originated from the collision of a massive asteroid or comet with the Earth about 66 million years ago. This cataclysmic event, known as the Chicxulub impact, is thought to have caused the extinction of the dinosaurs.

Iridium is also found in meteorites, which are fragments of asteroids and comets that have fallen to Earth. These meteorites provide further evidence of the extraterrestrial origin of iridium.

Iridium Uses

Iridium is a rare and valuable metal that is used in a variety of applications due to its unique properties. Iridium is widely used in the tips of spark plugs for internal combustion engines. Iridium's exceptional corrosion resistance and low electrical resistivity make it a preferred material for electrical contacts.

It is used in a variety of electronic components, including relays, switches, and connectors, to ensure reliable electrical connections and prevent corrosion-related failures. Iridium is sometimes used in jewelry, particularly for high-end pieces, due to its exceptional strength, durability, and resistance to tarnishing. Its silvery-white appearance can complement other precious metals like gold and platinum.

Due to its resistance to extreme temperatures and corrosive environments, iridium is utilized in various components of spacecraft and satellites.

Iridium Producing Countries

Following are the major Iridium producing countries in the world:

 

  1.       South Africa
  2.       Russia
  3.       Zimbabwe
  4.       Canada
  5.       United States
  6.       Myanmar
  7.       Australia
  8.       Chile
  9.       China
  10.    Peru

Iridium Importing Countries

  1.       China
  2.       Japan
  3.       United States
  4.       Germany
  5.       South Korea
  6.       Switzerland
  7.       Taiwan
  8.       Italy
  9.       India
  10.    United Kingdom

Iridium Production

Based on the latest available data, the global production of iridium in 2022 is estimated to be approximately 1,200 kilograms (2,646 lbs). This represents a slight increase from the estimated production of 1,100 kilograms (2,425 lbs) in 2021.

South Africa remains the world's largest producer of iridium, accounting for about 45% of global production in 2022. Russia is the second-largest producer, with a share of approximately 30%. Zimbabwe, Canada, and the United States are also significant producers, collectively accounting for the remaining 25% of global production.