The price trend of osmium experienced a gradual decline in the first two quarters due to a significant drop in the rare earth metals market. Factors contributing to this decline included an imbalance between supply and demand, increased supply from new mining initiatives, and a ban on rare earth element exports. The mismatch between excessive supply and limited demand, along with fluctuations in electric vehicle consumption, further impacted the osmium price trend. As a result, osmium prices, along with other rare earth elements, faced challenges in the first and second quarters of 2023.
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Definition
Osmium is a dense, transition metal with the chemical symbol Os and atomic number 76. It is known for its bluish-white color and is one of the rarest naturally occurring elements. Osmium has a high density and is extremely hard and brittle. It is used in various applications, including in the production of specialty alloys, electrical contacts, and fountain pen tips. Osmium is also utilized in scientific research, particularly in microscopy and as a catalyst in certain chemical reactions. Due to its toxicity and potential health hazards, proper handling and precautions are essential when working with osmium.
Key Details About the Osmium Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Osmium in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Osmium Price chart, including India Osmium price, USA Osmium price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Osmium Price Trend:
Osmium, a rare and dense transition metal, finds several industrial applications despite its scarcity. One of its prominent uses is in the production of specialty alloys, such as osmiridium, which is utilized in high-end electrical contacts, fountain pen tips, and instrument pivots due to its hardness and resistance to corrosion. Osmium is also employed in the field of microscopy, where it serves as a stain to enhance contrast in biological samples. Additionally, osmium tetroxide, a compound derived from osmium, is used as a powerful oxidizing and staining agent in organic chemistry and biological research. However, its toxicity necessitates careful handling and adherence to safety measures.
Key Players:
- American elements
- Russian Platinum
- Johnson Matthey
- BASF SE
- Manilal Maganlal & Company
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