Platinums Industrial And Jewellery High Value
Platinums Industrial And Jewellery High Value
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Home Page > Finance > Platinums Industrial And Jewellery High Value
Platinums Industrial And Jewellery High Value
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Posted: Mar 06, 2010 |Comments: 0
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Among all the precious metals, Platinum is one of the most valuable and one of the rarest, nearly thirty times rarer than gold. Platinum and the other metals known as Platinum Group Metals (or PGMs) such as Rhodium and Palladium are all very highly prized precious metals. For the most part Platinum and Rhodium are used in industry for applications such as thermocouple wire, catalytic convertors and are also present in many items of laboratory equipment and instruments. But there is a thriving jewellery trade for rings (mainly wedding rings and Diamond set rings) as well as the more recent increase in the manufacture of Palladium jewellery since the very recent introduction of a standard Palladium hallmark in the United Kingdom.
Mining and Sourcing of this Precious Metal
Platinum is obtained as a by-product of copper and nickel mining, with ninety percent of the supply mined in Russia and South Africa. In order to obtain an ounce of pure Pt, about eight tons of the mined ore is required to be mined and processed. Now a substantial portion of the market for this precious metal is supplied by the recycling scrap jewellery as well as the recycling of catalytic convertors and scrap Platinum thermocouple wiring by companies such as Scrap-Platinum.co.uk.
Industrial uses of PGMs
Many applications make use of PGMs. Over twenty percent of consumer products are produced using Platinum in some form or at least containing some quantities of the precious metal.
Around fifty percent of the entire supply of Pt sold is utilized in automobile emission control systems (catalytic convertors) in cars, which reduce the pollution level from vehicle emissions. Platinum is also a vital component of fuel cell technology that generates electricity from hydrogen and oxygen. Even if the fuel systems and energy sources of cars change later in the future, the demand for Platinum in the automobile industry would still remain high.
Five percent of Platinum supply is utilized in electronic items like hard disk drives, infrared detectors, LCD displays and Platinum thermocouples that determine temperature. With the continual increase in the use of computers in the world, the demand for platinum is sure to reach higher than current usage levels.
Around five percent of the supply is also utilised as a chemical additive employed in fertilizers and other chemical products, as a petrol additive to improve combustion and in silicone production for automotive and aerospace industries. Fewer quantities of Platinum are utilized in many other applications like anticancer chemotherapy drugs, pacemakers, electrodes, oxygen sensors and turbine engines. Alloys in various metal items such as fine wires, electrical contacts, lab equipment, thermocouple wiring and medical instruments are also created using Platinum.
Platinum Jewellery Uses
Around twenty percent of the Pt metal supplies are utilized in the manufacture of high end quality jewellery. A prestigious and expensive choice for jewellery, Platinum is usually reserved for the more expensive and luxury items for the elite and wealthy as well as special occasion jewellery such as wedding rings and solitaire diamond rings. The metal has an extremely high durability and hence is an extremely popular option for wedding bands and many other meaningful jewellery items or gift keepsakes. Every item of Platinum jewellery is a priceless treasure and this bright white metal is perfect to create rare classic jewellery pieces that will impress with a timeless beauty.
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G Smith -
About the Author:
Sell Platinum thermocouples or unwanted Gold,Silver or Platinum jewellery to Precious Metal buyers online for Cash. Many Gold jewellery and Scrap Platinum Buyers will offer cash for any amount of Platinum,Rhodium,Gold or Silver jewellery, industrial thermocouple wiring or Laboratory Platinum scrap for precious metal recycling.
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