#IRIDIUM METAL PRICE DRIVER#

Rhodium was first discovered by William Hyde Wollaston, an English chemist and physicist. Recycling supplies about 30% of annual rhodium production. Recycling of catalytic converters from scrapped vehicles is another important source of rhodium. Rhodium and other platinum group metals occur uncombined in nature, as well, in North and South America in river sands. Russia, Zimbabwe and Canada are the three other top producers, but in far lower quantities. South Africa is the majority source of rhodium making up over 80% of total mined rhodium. Rhodium is also less commonly used as electrical contacts, laboratory crucibles, and in the electrodes of aircraft spark plugs. Aside from catalytic converters, some applications using rhodium are as a catalyst for nitric acid, in themocouples, and to coat optic fibers and optic mirrors.

#IRIDIUM METAL PRICE DRIVER#

Its efficiency as a catalyst for converting NO x to N 2 and O 2 is the primary driver of rhodium demand, accounting for approximately 80% of demand. Because of this, Rhodium is considered the world's most expensive precious metal. Being primarily found in ore bodies combined with platinum, palladium, gold and copper-nickel ores, rhodium is most often produced as a byproduct of nickel and platinum refining.ĭue to its rarity, the price of rhodium far exceeds that of other platinum group metals and any other precious metal, such as gold and silver. It is both highly resistant to corrosion and highly reflective. Rhodium, abbreviated Rh, is a silver-white metallic element belonging to the platinum group. Rhodium is the most valuable of the platinum group metals.

Iridium metal price