Price of Iridium
Iridium has a price that is valuable to everyone. Because iridium is used mainly in the screens for OLED tvs. A lot of people do not know exactly what it is, but you will soon learn that this has a huge influence on the price of televisions all over the world. It is a silver white metal that used for an alloy. The chemical name for this material is LR and it can be found with atom number 77. It is a raw material that we only discoverd about 218 years ago in England. A very young, new, strange material. They discovered it, by finding out it was left over when you dissolve platina quartz in king’s water. Until the day of today it is used for a lot of different applications. Did you know that the tip of a felt tip pen is also made of iridium? A very long time ago it was even used to create weapons. This precious metal can be found in the platina group PGM.
What is iridium and how do we determine the price?
Iridium is a raw material that is used in many applications. The price of it is determined by a couple of factors. Because this raw material is not produced a lot, it is quite volatile and often pretty pricey. When a producer starts producing a lot, the price fluctuates pretty heavily as well. Often this will result in the price plummiting quite a bit. It is mostly used in the industrial applications and scientific organizations, especially since it is so new and we do not know everything about it. This could make it a very interesting investment. When traded in time, you can make a lot of money with this precious metal. Depending on what the market does, this can be of long term or short term. A shift in the market, results in a higher or lower price immediately.
The discovery of iridium
The iridium price regularly changes its course. It is a raw material discovered in 1803 in England. They did this discovery purely by accident. When the scientists were busy dissolving platina quartz in king’s water, a substance remained. This substance, after some research, appeared to be the iridium that we used nowadays for a number of applications. What many people do not know is that this precious metal is also used in battling tumors. Anothe fun discovery is that the meteorite that crashed in Mexico about 65 million years ago carried a large quantity of iridium. It was discovered as a small layer that was laying over the meteorite, but back then the raw material was not used for anything. Unfortunately it is a very hard product which is hard to process. Maybe this is something we will find out to solve in the future.
What products does the iridium price influence?
The iridium price mostly influences the production of televisions and spark plugs. The latest techniques that are used for OLED televisions contain a small quantity of iridium too. It is recognizable because of the external quality of silver white metal with a little layer over it. In spark plugs iridium is used a lot mroe too, because it is so hard and almost impossible to bend. This is important, because the parts of a car have to be able to have a lifespan as long as possible under high pressure. When sodium slat is used, it can react with iridium. Often you are able to bend it slightly then, but watch out that you do not put too much acid over it. This can make the product melt and impossible to work with afterwards.
Properties of the iridium prices
The iridium price remains usually around the same level. But you do see a lot of strong movements when a producer or raw material user starts using more of this material, which makes the price plummit. This is usually tepmorary, because the increase in production is also mostly temporary. These moments are great ones to trade in though, as there is a lot to gain from it. So far, there are only few prodocts that use iridium. Due to the coming of the OLED screen TVs there is an upward trend in production though and it might be that this goes up in the future. Devices and machines that have to be able to withstand high temperatures are starting to see iridium as a possibility as well more and more, which is a positive trend. The metal is hard to bend and has a tough structure, which gives a lot of security to a production line.
Which companies does this affect?
The price of iridium mostly affects the production companies. Often it is a material used for foritifying a part like a spark plug. But it is also used for high quality televisions, called the OLED tvs. We also see an upward trend in production as it is a solid and firm material. In the scientific world we can see it return at melting measurement systems that can determine the melting points of solid materials. It is also used in the fight against tumors. By form of radiation the patient is treated for a tumor. It is important to konw that such a device does not break, which is why a small amount of iridium is often used.
How to find the best iridium price
The best iridium price can be found by keeping a close watch on the market. Check when the production of this raw material increases and the price will drop fast. Throughout the year you will see not a lot of changes. But we are in a time where more and more OLED tvs are being made, so you will see the production of those increase as well. More tumors are being treated as well which is why more devices for this are being made with iridium as well. So far it is a fairly stable market, but in the future we expect a lot of swings as well. It is a matter of time that these different indicators happen and the price tilts one or the other way. Many investors find this interesting. A lot of companies want security and the best price, because they will use it in their machines more. We live in a world of sustainability, where iridium can play a very important role.