Several million for 1 gram of metal
When talking about the most expensive metals on the planet, platinum or gold products immediately come to mind. However, they are not recognized as the most expensive metals in the world on the international raw material markets.
The cost of precious and expensive metals, as a rule, consists of indicators of the quality or degree of rarity of the metal, the complexity of the extraction process, customer demand, available areas for use, etc. And all these aspects can change regularly depending on the improvement of modern technologies, the situation around the world and in the country of production, and other aspects.
All existing metals are divided into two types::
- natural resources;
- synthesized data.
The first, as the name suggests, are mined in nature, the price of such metals depends, as a rule, on the complexity of the mining process and the rarity of the metal itself.
Synthesized metals are substances obtained in the laboratory during chemical processes. This process is quite long and expensive, so the most expensive metal in the world is the one that is an isotope, that is, a synthesized metal.
What is the most expensive metal in the world?
At the dawn of mankind, metals were mainly valued for the fact that they could be used to make tools of labor and defense, and precious metals had the value of a universal tool for calculations.
There are times when silver was considered the most expensive precious metal, and there were days when no metal was more expensive than aluminum. The development of technology and science in the 19th century influenced the value of metals, the main factor in increasing the cost was the benefits they bring. They began to be valued not just for their attractive appearance and ease of processing, but the main parameter of high cost was the need for them in the industry.
To date, a large number of synthesized metals are known in the world, however, two of them are of particular interest-Californium and Osmium-187.
The first one is considered the most radioactive and expensive on Earth. This isotope is usually used for scientific research. This metal was introduced in 1950, but it was not synthesized until 1958. The special value of the isotope is its effective use for the treatment of cancer. The most expensive metal in the world of California costs $ 25 million per gram. Only no more than 0.04 parts of one gram can be synthesized per year.
California metal, whose price is simply exorbitant, consists of seventeen isotopes, each of which has certain radioactive properties. This metal is recognized as the most powerful source of neutrons, so it is used for radiation therapy sessions when conventional procedures are not effective.
The most expensive metal on Earth — Californium-also helps to shine through the necessary parts of aircraft, rectors to search for possible damage in places inaccessible to the naked eye. Even X-ray is inferior in its properties to California. That is why the metal is used to search for deposits of silver and gold. They also use California-based equipment to search for hidden drugs when other options don’t help.
At the same time, californium is highly toxic, so it is used in very small doses, and the process of its extraction takes a very long time, calculated not in days and weeks, but in years.
The production of this metal exists only in the USA and Russia. In the entire history of mankind, only five grams of this expensive isotope have been extracted.
Osmium-187 is considered the most difficult to extract isotope. When the metal was discovered, it took about nine months of hard labor to mine it. The isotope is used as a catalyst for chemical reactions, in medical research and in precise measuring devices. The cost of one gram is 200,000 US dollars.
In addition to isotopes, there are also expensive natural metals. Naturally, their cost cannot be compared with synthesized ones, for example, California has a fabulous price for 1 gram, but for ordinary citizens the price of metals of natural origin is also quite high.
Rhodium belongs to the platinum group of metals and is considered the most expensive and noble metal. Up to 30 tons of it are produced annually, South Africa is recognized as the main producer, and small amounts of rhodium are also produced in the USA, Canada, Finland, and Russia.
The cost of rhodium is about three hundred thousand dollars per kg, which is several times higher than the price of gold and platinum metals. Rhodium is sold on exchanges all over the world.
The metal is considered rare, so the demand for it is high. Rhodium is used in various fields — in the manufacture of mirrors, nuclear reactors, necessary for lighting. It is also in demand as a coating on some jewelry, including white gold products.
This metal is most popular in the automotive sector, it is used for the manufacture of headlight reflectors, for example.
Until 2009, rhodium was practically unknown in the field of investment, but now it is quite affordable and has great prospects.
Iridium is the second most expensive metal in the world. The annual production volume is up to three tons. It is produced mostly in Brazil, South Africa, the USA, and the Russian Federation. The metal is considered the rarest of the platinum group, however, its high cost is due not only to this fact. It consists of difficulties in the mining process, market speculation, increased demand, the political and economic situation in the countries where it is mined, etc. In addition, the development of modern technologies plays an important role in price formation.
Iridium is a fairly hard metal, which makes it an ideal strengthening element for various alloys used in the production of deep-sea pipes and aircraft engines.
Iridium is also in demand in the medical industry, metallurgy, electronics, automotive industry, aviation and other industries.
Most investors consider the metal secondary, so they do not consider it as an investment opportunity. The ideal way to enter the market is to invest in appropriate funds or buy shares from producers.
In the third place among the most expensive metals on Earth, palladium is produced annually in total in Russia, the USA, South Africa, Zimbabwe, etc. up to two hundred tons.
Palladium is recognized as a rare metal, found 30 times less often than platinum and gold bars. This explains its high cost. Palladium competes with rhodium in auto production, both of which contribute to the conversion of harmful exhaust gases into safe substances.
In addition, palladium is successfully used in the aerospace, nuclear power, and electronics industries. Now palladium is a stable currency and a tool that attracts investors.
Gold Today, it is mostly produced in Australia, Indonesia, China, Canada, Mexico, South Africa, etc.
In the list of the most valuable metals in the world, gold occupies the 4th place, being the most popular investment instrument primarily because of its stability in any given year.
For a long time, it was gold that was recognized as an exchange currency between different states, representing a symbol of prosperity and power. There has always been a gold market, as the demand for this precious metal has never weakened.
Today, gold is used in almost all industries and production, its value increases mainly at the moment when the dollar exchange rate falls. The reason for this is simple: most investors switch their attention to expensive metals during a weakening currency.
The value of a gold ingot depends not only on the rarity of the metal itself and its direct use, but also on the political and economic situation on the market, demand, etc.
Today, platinum is considered one of the most expensive metals on Earth, mainly mined in South Africa, as well as in Russia, the United States and Canada.
Once platinum was not considered valuable, it was considered low-grade silver, it was chosen mainly by jewelers for forging jewelry. It was only over the years that people began to realize that platinum is a rarer material than gold. Now all expensive rare jewelry, watches, credit cards are called”platinum”.
Platinum is used in various industries and industrial sectors – dentistry, medicine, aviation, glassmaking, etc. However, platinum is most often chosen for the manufacture of jewelry and as an effective investment tool.
What does the price of metal depend on?
The cost of a substance is determined by the results of trading on the stock exchange. This is a unique platform for interaction between sellers and buyers. Everyone who is related to metals will be able to monitor real-time changes in quotes on the stock exchange.
Now there are several exchange platforms around the world where the most expensive metals in the world are traded:
- in the capital of England;
- in Shanghai;
- in Japan, etc.
A huge role in the formation of the price of metals is played by the number of deposits on the planet of a particular substance. Increasing demand for these products also increases the cost of the most expensive metal in the world, the price also depends on the economic and political situation in the country where mining is carried out.