Iridium Compound Prices Decline
Iridium compounds faced forced price cuts as high legacy inventories and bearish expectations pressured buyers, leading to a downward trend.
Iridium Price Trend Analysis 2026: Supply Demand Analysis, Price Drivers, Latest News, Historical Prices & Market Insights
Written ByShriya Singh
Iridium Latest Development
South Africa PGM output slumps, tightening supply
Platinum group metal mining production in South Africa dropped sharply in August 2026, cutting output and reducing available supply. The decline is expected to lift upward pressure on PGM prices due to tighter market conditions.
Iridium Price Trend Q3 2026
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Iridium | China | FOB | USD 268.36/Gram | August 2026 |
| Iridium | India | CIF | USD 268.36/Gram | August 2026 |
| Iridium | USA | CIF | USD 268.36/Gram | August 2026 |
| Iridium | Brazil | CIF | USD 268.36/Gram | August 2026 |
| Iridium | Canada | CIF | USD 268.36/Gram | August 2026 |
| Iridium | China | FOB | USD 258.60/Gram | July 2026 |
| Iridium | India | CIF | USD 258.71/Gram | July 2026 |
| Iridium | USA | CIF | USD 258.79/Gram | July 2026 |
| Iridium | Brazil | CIF | USD 258.78/Gram | July 2026 |
| Iridium | Canada | CIF | USD 258.79/Gram | July 2026 |
Stay updated with the latest Iridium prices, historical data, and tailored regional analysis
Iridium Price Trend Q3 2026
- During Q3’26, iridium prices moved upward, reaching record territory as fixed by-product supply struggled to keep pace with rising industrial and hydrogen-related demand.
- Iridium is recovered only from platinum and palladium mining in South Africa and Russia, so output remained flat despite higher prices across the platinum group.
- Demand strengthened from optical communications, semiconductors, lasers and PEM electrolysers, with crucible makers reporting a surge in orders during the year.
In China, the average price of Iridium rose from ~USD 258.60/Gram (FOB) in July to ~USD 268.36/Gram in August, an increase of ~3.8%. Prices advanced in July after the final investment decision on a major hydrogen hub in Australia that will use PEM electrolysers, which rely on iridium as a key catalyst. Supply remained the central constraint. Because iridium is produced only as a by-product of platinum and palladium mining, output could not respond to higher prices, and South African production held broadly steady in the first half. In China, optical communications, semiconductor and laser applications drove a surge in orders for iridium crucibles. Prices stayed broadly flat in late August, while lower-iridium anode technology for electrolysers emerged as a longer-term substitution risk.
Analyst Insight
According to Procurement Resource, iridium prices are expected to remain elevated on structurally tight supply and growing high-tech demand, though substitution efforts could temper further gains.
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- Iridium remained supported in Q2 by a structural supply deficit and emerging hydrogen demand, although stronger PGM output limited upside momentum.
- As a by-product of PGM refining, iridium supply depended mainly on platinum-group mining and recovery rates rather than a dedicated feedstock.
- Demand gains came from PEM electrolysis and energy-transition applications, while weaker broader PGM sentiment and limited industrial consumption moderated support.
In China, the average price of Iridium was ~USD 230/gram in June. The market remained supported by constrained primary availability and expectations of a modest structural deficit, while stronger South African PGM refining increased physical availability during the quarter. Valterra Platinum reported refined PGM production of 778,500 ounces in Q1 2026, up 78% year on year, providing additional metal into the market. However, South African recovery was partly offset by weaker Russian PGM output. In India, the average Iridium price was ~USD 230/gram in June. Demand remained linked to specialised applications, while the global market continued to be influenced by the limited number of producers and dependence on PGM mining economics. In the USA, Iridium averaged ~USD 230/gram in June. North American supply remained constrained as broader PGM mine output faced pressure, although its direct effect on iridium was limited because regional ores contain relatively little iridium.
Analyst Insight
According to Procurement Resource, iridium is likely to retain underlying support from emerging hydrogen demand, while higher South African refined availability could limit sharper gains.
About Iridium
Iridium is a chemical element with the atomic number 77. It is a hard, brittle, silvery-white transition metal of the platinum group. Iridium is known to be the second-densest metal after osmium. It is one of the most corrosion-resistant metals, even at temperatures of 2000 °C.
Iridium Product Detail
HS Code
71104
Chemical Formula
Ir
CAS Number
7439-88-5
Molecular Weight
192.22 g/mol
Industrial Uses
Cosmetics, Crystals, Industrial appliances, Medical appliances, Coating for non-conductive materials
Synonyms
Iridium black, Iridium Ion
Supplier Database
Umicore N.V, BASF SE, Russian Platinum, Anglo American Platinum Limited, Johnson Matthey
Regional Coverage
Asia Pacific
China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe
Germany, France, United Kingdom, Italy,Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America
United States and Canada
Latin America
Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa
South Africa, Nigeria, Egypt, Algeria, Morocco
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Iridium Production Process
- Production of Iridium via extraction as by-product
Iridium is removed from the other platinum group metals by precipitating ammonium hexachloroiridate or by extracting IrCl2−6 with organic amines.
Our Price Analysis Methodology
About the Author
Shriya Singh
Business Insights Analyst
Helping procurement and sourcing teams navigate complex markets through data-driven research, category intelligence, and actionable insights - with a focus on identifying market trends, analyzing supply-side developments, and delivering clear intelligence that supports informed business decisions.
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