The majority of hydrogen currently produced in the market is made through the methane steam reforming process through which it also generates CO2 as a by-product, Jackiewicz said. "When talking about the future of both iridium and ruthenium, there is a chance that they are both going to be used in the production of green hydrogen via water electrolysis," Jackiewicz said. The Platts New York Dealer price range for ruthenium rose to $320-$340/oz for the Feb. Ruthenium is used to make electrical contacts and computer hard disk drives and is also used as a chemical catalyst. OPMs part of green hydrogen economyĪside from 5G technology, a number of market sources told Platts that speculators were looking to enter the ruthenium market as the metal had also been linked with the hydrogen economy. Though total rhodium primary supply and recycling accounts for around 30 mt of the metal each year, around 7-8 mt of iridium is produced on a yearly basis, with ruthenium, including recycling, around 35-40 mt.
Also known as other precious metals (OPMs), general geological concentration and supply is focused in South Africa, with the country accounting for 81%, 81% and 90% of global mine production respectively.
Iridium, rhodium and ruthenium are by-products of PGM mining and are produced by a small number of producers. "We had a situation where a PGM producer was coming into the market in order to purchase material due to their commitments since they didn't have enough material to fulfil those commitments." "Producers thought that they were comfortable with the inventories they had towards the end of last year, but they were caught short," Jackiewicz said. On the supply side, COVID-19 severely disrupted South African supply in 2020, with Jackiewicz adding that what has changed in the recent period is the demand side. "This demand will be increasingly important as we move towards 5G and other new technologies." "The main usage is in the production of crucibles for the SAW filters for growing of the lithium tantalate crystals for 5G," she said. "Until the pandemic struck the iridium market had been a very stable market for many years," trader Karolina Jackiewicz of UK-based minor metals trading company Lipmann Walton & Co.
#Iridium price driver
In recent weeks, market source told S&P Global Platts that the main driver for iridium's price increase has been the crucibles and the need for those to grow the lithium tantalate crystals for 5G technology. Iridium is a critical element in several niche products, including temperature resistant crucibles used to grow synthetic crystals for electronics and telecommunications systems, high-performance spark plugs, medical devices and iridium-coated electrodes for navel ballast systems.
23, while refiner Engelhard Materials Services (BASF) of Germany said its price also stood at $4,800/oz, up 1% week on week. Johnson Matthey - the largest secondary PGM refiner in the world - said its iridium base prices stood at $4,800/oz, up 9% on Feb.
The Platts New York Dealer iridium price rose to $4,200-$4,800/oz for the Feb. The platinum group metal has been on a tear over the past three months, rising nearly threefold since Dec. Receive daily email alerts, subscriber notes & personalize your experience.
0 kommentar(er)
