Market Report
Learn more about all important trends in the precious metals markets in our market reports on a regular basis.
Latest Issue of the Market Report
No. 38 | 19th October 2026: Iridium and ruthenium flying high
Iridium and ruthenium reached record highs last week. Both are small markets, with annual supply of roughly 1 moz for ruthenium and around 300 koz for iridium. Neither is mined in its own right: both are co-products of PGM mining, so output is driven by the economics of the wider basket rather than by their own prices. When new sources of demand emerge, output cannot respond, so prices must do the adjusting and the moves can be large and fast.
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