Palladium - an indispensable key material in aerospace and automotive manufacturing

Palladium material reference price: 71406.81/kg

Palladium is a member of the eighth group platinum element in the fifth cycle. In 1803, British chemist Wollaston discovered a new element from a platinum mine. He dissolved the natural platinum ore in aqua regia, removed the acid, and dropwise added a solution of mercury cyanide (Hg (CN) 2) to obtain a yellow precipitate. Heat sulfur, borax, and this precipitate together to obtain bright metal particles. He called it palladium, with the element symbol Pd. This term comes from the asteroid Pallas discovered at the time, and comes from the Greek goddess Pallas, who is the goddess of wisdom.

Palladium is the second most expensive metal in the commodity market. It is about 30 times rarer than gold or platinum,. Between 2001 and 2018, the value of palladium was lower than that of gold and platinum, and starting in February 2019, the price of palladium began to surpass that of gold. Mainly due to its frequent use as a catalytic converter in diesel vehicles, and the global tightening of regulations on fuel vehicles, as well as the European diesel emission scandal, the market demand for palladium by car manufacturers has rapidly increased. As a result, the value of palladium significantly exceeds that of gold.

Important features: lowest melting point, lowest density

Production country: Russia, South Africa, United States

Important use: Palladium is an indispensable key material in high-tech fields such as aerospace, aviation, navigation, weapons, and nuclear energy, as well as in the automotive manufacturing industry. For example, the most common use of palladium is catalytic converters, which can convert up to 90% of all harmful gases in automotive exhaust into less toxic substances. Especially the investment varieties that cannot be ignored in the international precious metal investment market.

Palladium chloride is also used for electroplating; Palladium chloride and its related chlorides are used for cyclic refining and as a source for the production of pure sponge palladium through thermal decomposition.

Palladium is mainly used as a catalyst in chemistry; Palladium is melted into alloys with ruthenium, iridium, silver, gold, copper, etc., which can improve the resistivity, hardness, and strength of palladium, and is used for manufacturing precision resistors, jewelry, and other accessories. For example, the most common and valuable alloy for palladium jewelry is palladium.

More precious metal materials and their prices:  Rhodium