The Iridium Market
Iridium price drivers
An introduction to iridium
Iridium demand is highly diversified, led by electrochemical (chloralkali process electrodes), with crucibles for melting electronic materials, catalysis and alloys with other PGMs in jewellery and medical products significant too.
Iridium has recently performed strongly and the metal is well established in several processes and components where it will be quite difficult to substitute out. However, prospective end-users remain wary of committing to a metal perceived as having limited long-term supply and a track record of volatile prices.
SFA (Oxford) is the only company in the world to have derived iridium mine production volumes and developed detailed demand modelling of all major end-uses to provide an authoritative view of the current and future iridium market.
Iridium price news and insights
SFA's latest podcast: PGM markets out to 2040
11 November 2024
The latest SFA podcast episode examines how evolving trends in transportation and energy are reshaping the platinum group metals markets.
The squeeze is on: Managing the margins
10 September 2024 | Dr Ralph Grimble
PGM miners’ revenues have collapsed with the fall in palladium and rhodium prices. The little-mentioned chrome has become an important contributor.
Iridium’s outlook linked to hydrogen economy wariness
21 October 2024 | SFA (Oxford) & Heraeus
Chinese heavy-duty vehicle platinum demand could be ready for a rise
7 October 2024 | SFA (Oxford) & Heraeus
Where does the palladium market go from here?
23 September 2024 | SFA (Oxford) & Heraeus
The Chinese car market in 2024 – PHEVs, subsidies and palladium
19 August 2024 | SFA (Oxford) & Heraeus
Iridium price in context, 1995 to 2021
Iridium market balance
koz | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021f | |
Primary iridium supply | |||||||||
South Africa | |||||||||
Russia | |||||||||
Zimbabwe | |||||||||
Other | |||||||||
Total iridium supply | 210 | 280 | 275 | 275 | 275 | 280 | 225 | 295 | |
Iridium demand |
|||||||||
Jewellery | |||||||||
Hydrogen | |||||||||
Automotive | |||||||||
Chemical | |||||||||
Electrical | |||||||||
Other | |||||||||
Total iridium demand | 190 | 210 | 225 | 235 | 230 | 240 | 235 | 255 | |
Iridium market balance | |||||||||
Iridium balance | 20 | 70 | 50 | 40 | 45 | 40 | -10 | 40 | |
Iridium price history | |||||||||
Iridium price (USD/oz) | 555 | 544 | 575 | 896 | 1,283 | 1,480 | 1,629 | 5,075 | |
Iridium price (GBP/oz) | 337 | 356 | 429 | 694 | 967 | 1,160 | 1,268 | 3,862 | |
Iridium price (EUR/oz) | 419 | 490 | 521 | 792 | 1,092 | 1,322 | 1,425 | 4,288 | |
Iridium price (CNY/OZ) | 3,424 | 3,414 | 3,829 | 6,044 | 8,536 | 10,225 | 11,220 | 32,751 | |
Iridium price (ZAR/oz) | 6,017 | 6,917 | 8,413 | 11,934 | 17,195 | 21,379 | 26,757 | 74,685 | |
Iridium price (JPY/oz) | 58,714 | 65,782 | 62,480 | 100,445 | 141,993 | 161,354 | 173,688 | 557,847 | |
Source: SFA (Oxford). Updated November 2021.
Linked iridium market reports
In response to requests for more regular iridium market intelligence, we now produce a bespoke quarterly iridium market report that allows you to keep up to date with this market.
Meet the Iridium team
Trusted advice from a dedicated team of experts.
Dr Jenny Watts
Head of Clean Energy & Sustainability
Alex Biddle
Senior Mining Analyst
Jamie Underwood
Principal Consultant
Dr Sandeep Kaler
Market Strategy Analyst
How can we help you?
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