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

The evolving nature of the PGM markets to 2040
19 October 2022 | Beresford Clarke
Available now, this unique report is an in-depth, forward-looking analysis of the current and long-term trends and influences acting on the global PGM markets to 2040.

Interview with Mining Network
5 September 2022 | Henk de Hoop
SFA's CEO Henk discusses the future of PGMs with Mining Network
Green hydrogen cost will decline steeply as manufacturing base expands
28 November 2022 | SFA (Oxford) & Heraeus
Gold could struggle to make headway until the Fed changes course
10 November 2022 | SFA (Oxford) & Heraeus
Dhanteras, Diwali and dowries may well boost India’s gold demand in Q4’22
31 October 2022 | SFA (Oxford) & Heraeus
More petroleum platinum demand at risk once Russian oil dries up in Europe
24 October 2022 | 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

Sandeep Kaler
Market Strategy Analyst

Gyubin Hwang
Hydrogen Market Analyst

How can we help you?
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