According to various market experts, supply is anticipated to be on the shorter side as South Africa, where around six to eight tonnes of Iridium is mined each year, is still under coronavirus restrictions. also settled its Iridium offers at USD 6,000 per ounce during the week ending March 19 th.Īs per ChemAnalyst, “The demand of Iridium is expected to stay on the rise in the upcoming months. Industrial price of Iridium offered by Heraeus Precious Metals, a German technology group specialized in precious metals, was assessed at USD 6,600 per ounce on March 12 th, 2021. 5G smartphone market has provided a major boost to the demand of Iridium and, particularly Organic Light Emitting Diode (OLED) technology. Iridium is a by-product of platinum extraction and finds varied applications in very niche products of electronics and telecommunication sectors. South Africa, which is still reeling under Covid-19 fallout has failed to meet the rising demand, hence creating a major demand-supply rift. Final monthly fees will not be pro-rated regardless of deactivation date for all Iridium Certus plans. 2.) Initial monthly fee / allowance are pro-rated based upon the number of days active. Also, supply side constraints from South Africa, a major producer of Iridium (contributing around 80% share in the global Iridium supply), have supported the sharp climb in the element’s pricing, globally.ĭemand of Iridium is distributed among the three key sectors where electrical sector comprises around one-third of the overall demand followed by electrochemical and then by automotive which encompasses 13% of global Iridium demand. Preferred Communications retains the right to adjust pricing/rates in accordance with fluctuation in exchange rates and supplier price increases. Prices of Iridium have nearly tripled since December 2020, when the rates were hovering around USD 1750 per ounce, supported by a substantial rise in demand. Base prices of Iridium in New York, US witnessed an all-time high on the back of fierce demand which is mainly saturated in electrical, electrochemical and telecommunication sectors.

March turns out to be a breakthrough month for Iridium refiners and traders.

Iridium pricing