Isn't Iridium supposed to be rare?
I know it is the rarest naturally occurring element on earths crust and semi-abundant in meteors but it is used in spark plugs for vehicles and fountain pen tips (not to mention several other applications)
why is it so rare then if it is used in spark plugs for each of the millions and millions of cars out there?
This has puzzled me for months.
thanks
BQ: What is the price per ounce of Iridium?
It is very rare.
The reason why it is used in spark plugs (and some other electricals) is that it has a very very high melting point, is resistant to corrosion, heat and arc erosion.
It is used in pen tips because it is very very hard, resistant to wear and corrosion. It really is the best thing to use.
Despite being used in spark plugs, the car industry uses less than 800kg a year. About 2.5 tonnes of Iridium is used per year in industry altogether. That's a minuscule amount compared to how much we use other metals. Even Gold is used at a massively higher rate than that.
The price of Iridium has been stable for some time at $1050 per ounce.
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