Ok, where do we go from here? It's always hard to make short-term forecasts in a small dynamic market, but there are some future bullish signs. With the higher price, they can now concentrate on what will really work: thrifting Ir and concentrating on other technologies. The price of Ir was not giving the officials and businessmen proper signals. There simply was not enough Ir to run all the planned water electrolyzers with existing technology. Ir is a very small market, and shifts like these can have an outsized effect on prices.īefore I continue, I want to address what my more woke readers might complain about: that I am locking up supplies of an essential material for saving the planet. I believe that there was some spillover from the rhodium speculators, who are obviously flush right now. Most important to my mind, nontraditional speculators like I started buying Ir. Ir is being used for cleaning up ships' waste to meet the new world standards. In view of the dynamic price situation, it's reasonable that they wanted to rebuild. I understand that consumer inventories were somewhat under normal. This was already underway in July of course, but the new variant made it worse. However, a few things forced the acceleration: This was a long-term trade, so I thought. Honestly, I did not expect this to work as quickly as it did. Here's a graph of Ir prices since I wrote it. Thrifting of Ir will make it more feasible, but higher Ir prices will also be necessary. One of the best ways of doing this uses Ir as the anode catalyst. If the use of green hydrogen expands like some are forecasting, it will be necessary to produce the hydrogen by splitting water molecules. There are no Ir mines, and there is no way to easily expand production. It is produced as a minor byproduct of platinum/palladium. Iridium is currently used in a variety of technological applications. In case you won't or you are not a Pro subscriber, here's a quick summary: If you haven't read the article, you should do it now. I then described what I considered the best, going long the platinum group metal iridium (Ir). Last July I wrote an article titled " The Chokepoint of the Hydrogen Economy." In it I described the various ways one could invest in hydrogen.
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