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
Future Minerals Forum 2023 in Saudi Arabia
16 January 2023 | Henk de Hoop, Dr Fahad Aljahdali
SFA (Oxford) attended the Future Minerals Forum in Riyadh, Saudi Arabia. The theme of the forum was to establish a resilient minerals and metals supply.
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.
The Great Financial Crisis 2.0? Will history repeat itself for gold?
27 March 2023 | SFA (Oxford) & Heraeus
India’s rising passenger vehicle sales to eclipse Japan’s in 2023
13 March 2023 | SFA (Oxford) & Heraeus
Silver solar demand will remain resilient in 2023
27 February 2023 | SFA (Oxford) & Heraeus
The Inflation Reduction Act could help to make the hydrogen economy a reality
6 February 2023 | 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.
The Iridium Market Report and Price Outlook
A comprehensive quarterly report on iridium market fundamentals and integration of future technologies for new and existing end-users.
Green Hydrogen Metals Market and Price Outlook
A proprietary report unlocking the current and future demands for precious metals (Pt, Ir, and Ru) used in electrolysers and fuel cells for the hydrogen economy.
Heraeus Precious Appraisal and Market Spotlights
In collaboration with Heraeus, this weekly report makes sure all the key precious metal and macroeconomic developments are fully analysed by the SFA team.
Global PGM Project Monitor Outlook
DCF scenario modelling analysing the attractiveness of global PGM projects based on incentivised PGM pricing which can motivate new supply.
Long-term PGM Supply Appraisal Outlook
An evaluation on future platinum, palladium and rhodium supply risk from mines and projects around the world, and the economic cost of production.
Global PGM Mine Depletion Assessment
Analytics on the PGM primary production landscape, assessing estimated depletion rates of mines and projects, forecasting ounce loss.
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
Gyubin Hwang
Consultant
Dr Tugce Ayvali
Hydrogen Market Analyst
Louis Scott
Hydrogen Market and Data Analyst
How can we help you?
SFA (Oxford) provides bespoke, independent intelligence on the strategic metal markets, specifically tailored to your needs. To find out more about what we can offer you, please contact us.