The price for 1 gram of iridium is 96,093.00 Indian Rupees (INR).
Understanding Iridium and Its Value
Iridium is one of the rarest and most corrosion-resistant precious metals on Earth, known for its extreme density and high melting point. Its unique properties make it invaluable in various high-tech industries, which significantly influences its market price.
Current Price Breakdown
Based on current data, the price for a 1-gram quantity of iridium is as follows:
| Quantity | Price (INR) |
|---|---|
| 1 gram | 96,093.00 |
Factors Influencing Iridium Prices
The price of iridium, like other precious metals, is subject to various market dynamics and intrinsic properties:
- Rarity: Iridium is exceptionally rare in the Earth's crust, contributing to its high value. It is typically found in natural alloys with platinum and other platinum-group metals.
- Industrial Demand: Its remarkable resistance to corrosion, high temperatures, and wear makes it critical for specialized applications, driving consistent demand from sectors such as:
- Electronics: Used in spark plugs, electrical contacts, and crucible manufacturing.
- Medicine: Components in medical implants and radiation therapy equipment.
- Chemical Industry: As a catalyst in various chemical processes.
- Automotive: Increasingly used in advanced spark plugs for performance vehicles.
- Purity and Form: The quoted price typically refers to high-purity iridium, often 99.9% pure, and can vary depending on whether it's in powder, sponge, or solid form.
- Global Supply and Market Conditions: Fluctuations in mining output, geopolitical stability, and overall economic health can impact the supply chain and market prices for precious metals.
- Supplier and Location: Prices can also vary between different suppliers and geographic regions due to logistics, local taxes, and individual business markups.
Uses of Iridium
The high value of iridium is directly linked to its critical role in advanced applications. Beyond its use in industrial equipment, it is also utilized in:
- High-Temperature Equipment: Due to its high melting point and strength at elevated temperatures, it's used in crucibles and other equipment for growing crystals and manufacturing synthetic gems.
- Jewelry: Though less common than platinum, iridium is sometimes alloyed with platinum to increase hardness and durability in fine jewelry.
- Space Exploration: Its robustness makes it suitable for components in satellites and spacecraft.
For more general information about iridium and its properties, you can refer to resources like Wikipedia's Iridium page.
