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Iridium or Ir, a chemical element, is one of the platinum metals belonging to Groups 8 – 10 (VIIIb), Periods 5 and 6 of the periodic table. It is a highly condensed and scarce metal that is utilised in platinum alloys. Iridium is a valuable metal that appears silvery white in colours. Though it is hard and brittle, it becomes pliable and can be worked upon at a white heat, ranging from 1,200° to 1,500° C.
Additionally, it is one of the densest or most solid planetary materials. In its massive state, iridium is reasonably insoluble in acids and is not attacked even by aqua regia. However, it can be dissolved in condensed hydrochloric acid in the existence of sodium perchlorate at 125° to 150° C.
The major exporters of iridium are Chinese Taipei, the United Kingdom, Japan, South Africa, and Germany. At the same time, the main importers are the United States, Japan, Singapore, the United Kingdom, and Austria.
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Key Details About the Iridium Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Iridium price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Iridium Price chart, including India Iridium price, USA Iridium price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Iridium Price Trend:
Iridium is a scarce and precious metal used as industrial metal with several applications in electronics and machinery. The high melting point makes iridium useful in various industrial applications, such as the construction of high-grade spark plugs utilised in general aviation aircraft. In addition, companies use this metal to construct crucibles or containers for melting and employing other industrial metals. Moreover, iridium has taken the place of a significant component in the production of LED screens and backlit displays of technology devices like iPads and iPhones.
The high-end use of iridium has led to a rise in the demand for the metal and resulted in an excessive hike in its price. Because of its high conductivity to electricity and aversion to corrosion at excessive temperatures, iridium is commonly utilised to tip spark plugs. These devices ignite the fuel-air blend in the combustion engines. Besides, one of the substantial energy sources in γ radiography is the radioisotope iridium-192, which supports the harmless testing of metals. Furthermore, the gamma rays emitted by iridium are used in brachytherapy to treat cancer.
Key Players:
- Umicore N.V.
- BASF SE
- Russian Platinum
- Anglo American Platinum Limited
- Johnson Matthey
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