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“5G is anticipated to be a key driver of growth, boosted by the success of Apple’s full iPhone 12 line-up and selected Samsung Galaxy handsets,” Heraeus said. Heraeus said that according to International Data Corporation forecasts, global smartphone shipments are expected to increase 5.5% year on year in 2021, boosted by a post-pandemic recovery in demand and 5G device interest.
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“Electrical end-uses, including OLED display, accounted for around 70,000 oz of iridium last year, 31% of total demand.” “OLED screens have many advantages over LED and LCD screens in terms of picture quality and efficiency,” Heraeus said. OLED technology, which is used in consumer electronics and is built on an iridium compound, is currently the fastest growing display technology. “Costs are declining as more manufacturers release 5G handsets, which will accelerate the rate of adoption,” German firm Heraeus Precious Metals said earlier this year. Premium 5G phones are propping up demand for organic light-emitting diode (OLED) displays. Iridium is a critical element in several niche products, including temperature resistant crucibles used to grow synthetic crystals for electronics, high-performance spark plugs, medical devices and iridium-coated electrodes for naval ballast systems.īut it is anticipated demand for 5G smartphones and potential eventual use in green hydrogen energy production that is underpinning long-term forecasts for the metal. Rubio targets Chinese polysilicon links for US solar energy firms.China rolls out blueprint for high-tech rail – and space solar power farm.Chinese investors now looking at rare earths as replacement for Bitcoin.Iridium is known as a platinum group metal (PGM) as it is mainly produced as a by-product of platinum mining. Supply tightness from South Africa, the main source of iridium at roughly 80% of production, and strong demand in the electrical and electrochemical sector drove the price per ounce to a new record in mid March. A rally of more than 130% so far this year – more than bitcoin’s rise of more than 100% – has drawn attention, but the key to iridium’s long-term prospect is demand for 5G phones and green hydrogen energy. (ATF) Iridium is holding on to a record price of $6,000 per ounce that it hit in mid March.