Scandium is a rare earth element that has been used in the production of aluminum-scandium alloys. The market price of scandium has fluctuated over the years, but it is currently around $2,000 per kilogram. The majority of scandium produced is used in the aerospace industry, and demand for this metal is expected to grow in the future.
The market price of scandium is currently around $600 per kilogram. This price has been fairly stable over the last few years, with occasional spikes due to increased demand from the aerospace and military industries. Scandium is a rare earth element that is used in the production of high-strength aluminum alloys.
These alloys are used in aircraft construction and other applications where light weight and high strength are required. The majority of scandium produced today comes from China, which has a monopoly on its production.
Price of Scandium Per Gram
The price of scandium per gram can vary depending on the supplier, but is typically in the range of $500 to $1,000. This metal is not found naturally in large quantities and must be extracted from other minerals, which makes it relatively expensive. Scandium has a number of unique properties that make it useful for certain applications, such as high-strength aluminum alloys and certain types of lighting.
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How Much is Scandium Worth Per Gram?
Scandium is not found as a free element in nature, but it is present in many minerals, including thortveitite, euxenite, and gadolinite. Commercial production of scandium metal generally starts with the processing of these minerals. Scandium metal has few applications due to its high cost.
When used, it is often alloyed with aluminum or zinc to create alloys with enhanced strength or other desirable properties.
The price of scandium has fluctuated greatly over the years due to changing demand and supply conditions. In 2008, the price of 99.999% pure scandium oxide was about $5,000 per kilogram (about $2.27 per ounce).
By 2015, the price had fallen to around $1,100 per kilogram (about $0.50 per ounce). In 2017, prices started to increase again and by 2019 they had reached about $3,000 per kilogram (about $1.36 per ounce).
Why is Scandium So Expensive?
Scandium is a relatively rare element in the Earth’s crust, with an estimated abundance of just over 1 part per million. This scarcity, coupled with its unique properties, make scandium one of the most expensive elements on earth.
For example, while most metals are silver or gray in color, scandium has a beautiful yellow hue.
This makes it highly prized by collectors and those looking for unique jewelry. In addition, scandium is incredibly strong and light-weight – making it ideal for use in aircraft and high-performance racing cars.
Due to its rarity and usefulness, large amounts of scandium can fetch upwards of $10,000 per kilogram on the open market.
So if you’re ever lucky enough to find a piece of scandium jewelry or see a car made with this metal – you’ll know why it comes with such a hefty price tag!
How Rare is Scandium?
Scandium is a chemical element with the symbol Sc and atomic number 21. A silvery-white metallic d-block element, scandium is found in rare earth minerals and is sometimes used in strong light-alloyed metals.
While natural scandium is fairly rare, it is not considered a scarce element.
Scandium reserves have been estimated at 230,000 tonnes worldwide. The primary commercial source of scandium is from the minerals thortveitite (Sc 2 Ti 2 O 7 ) and euxenite ((Y,Ca,Ce) 2 (Nb,Ta) 2 O 6 F), which contain about 3% scandium oxide (Sc2O3).
Is Scandium a Precious Metal?
Scandium is a chemical element with the symbol Sc and atomic number 21. A silvery-white metallic d-block element, scandium is found in most rare earth metals. It was discovered in 1879 by spectral analysis of the minerals euxenite and gadolinite from Scandinavia.
Scandium is not considered a precious metal. It is relatively abundant in the Earth’s crust but is not found uncombined in nature.
Scandium: Most Tiny & Niche Investment
Conclusion
As of September 2019, the market price for scandium was $2100 per kilogram. This is down from $2400 per kilogram in 2018. The majority of scandium production comes from China, which produced 3,600 metric tons in 2018.
Russia is the second largest producer with 300 metric tons.
