• 9 minutes WTI @ 67.50, charts show $62.50 next
  • 11 minutes The EU Loses The Principles On Which It Was Built
  • 19 minutes Batteries Could Be a Small Dotcom-Style Bubble
  • 2 hours Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 1 hour Saudi Fund Wants to Take Tesla Private?
  • 1 hour Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 4 hours CO2 Emissions Hit 67-Year Low In USA, As Rest-Of-World Rises
  • 14 hours How To Explain 'Truth Isn't Truth' Comment of Rudy Giuliani?
  • 12 hours Starvation, horror in Venezuela
  • 5 hours Saudi PIF In Talks To Invest In Tesla Rival Lucid
  • 10 hours Corporations Are Buying More Renewables Than Ever
  • 16 hours China still to keep Iran oil flowing amid U.S. sanctions
  • 15 hours Are Trump's steel tariffs working? Seems they are!
  • 16 hours Is NAFTA dead? Or near breakthrough?
  • 6 hours Film on Venezuela's staggering collapse
  • 2 hours China goes against US natural gas
Alt Text

How Long Will The Lithium Rush Last?

As the race to secure…

Alt Text

Don’t Expect Palladium Prices To Plunge

Palladium has recently soared to…

Alt Text

World Class Copper Auction Draws Major Interest

Peru’s mega Michiquillay copper is…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Trending Discussions

Will Iridium be the Best-Performing Commodity of 2010

Unless you're a chemist or paleontologist, you've quite possibly never heard of iridium.

The metal is one of the "little brothers" amongst the platinum group elements. The United States used a scant 1,300 kilograms of iridium in 2009, mostly for specialized applications in manufacturing and aerospace.

But iridium may be the best-performing commodity of 2010.

The iridium price broke as high as $720 per ounce this week. Up 70% from the $420 price that prevailed at the end of December 2009. In fact, current iridium prices are the highest we've seen since 1981.

Most of the appreciation has come since mid-February. The iridium market is small and relatively opaque, so the reasons for the rise are hard to pin down. But indications are the price pressure is coming from Asia.

Traders told Platts this week that strong Japanese buying has been driving iridium higher. Chinese demand has also been implicated over the past few weeks.

The cause of the Asian iridium rush is less clear. One of Platts' sources chalked it up to "new applications". While another noted, "Whether they're building inventories or just protecting the future, I'm not sure. But they're not too discreet about the buying."

One interesting observation is that demand for platinum and palladium has been strong in Asia of late, due to the creation of PGE-backed exchange-traded funds (ETFs). Could someone be planning an iridium ETF as a sequel?

Or it may just be regular supply-demand tightness. Most reports have it that there isn't a lot of iridium supply around, and users may simply be trying to ensure adequate stocks.

Whatever the reason, this is a notable price move and a market that bears watching. Stay tuned.

By. Dave Forest of Notela Resourcesbr />




Back to homepage

Trending Discussions


Leave a comment
  • Loren on January 21 2013 said:
    Good article but it doesn't mention how to invest in iridum - if you can't invest what is the point?

    As far as I know there is only one option - a California company called "Preciousmetalpurchase" both sells and repurchases iridium from investors. Currently they charge a reasonable 3.5% commission per transaction.

    Since there are no "iridium mines" you can't invest in this element through stocks and there are no ETFs.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News