Platinum group metal mining production in South Africa dropped sharply in August 2026, cutting output and reducing available supply. The decline is expected to lift upward pressure on PGM prices due to tighter market conditions.
Valterra Platinum, operator of Platreef, UG2, Merensky and Great Dyke PGM ores, has publicly targeted chrome concentrate sales exceeding 2 million mt over the next five years under its Vision 2031 strategy. Increased chrome recovery from PGM ore processing streams could tighten available PGM ore feedstocks and influence PGM concentrate availability and pricing.
| Product | Category | Region | Price | Last Updated Month |
| Osmium | Energy, Metals and Minerals | USA | US$ 2410 | June 2025 |
Stay updated with the latest Osmium, historical data, and tailored regional analysis
Across 2025, osmium experienced one of its most dramatic years. At the start of the year, the interest grew rapidly as more reports pointed to its importance for advanced technology. Early research updates suggested that traditional chip materials were reaching their limits, and scientists were testing osmium for new quantum systems. This created steady attention through the first quarter.
By mid-year, headlines about shrinking global reserves and warnings of possible exhaustion stirred the market. Institutions that handled purification and distribution became more visible, and their statements increased the sense of urgency. Investors reacted to the idea that supply might tighten faster than expected, especially as more labs began testing purified forms of the metal for high-tech use. Throughout the summer, this mix of fear of shortage and rising scientific interest kept momentum high.
Toward the end of the year, interest expanded even further as countries highlighted new extraction efforts and research breakthroughs in fields such as energy, medicine, and quantum engineering. With technology companies, governments, and investors all watching the market closely, osmium stayed in the spotlight for the entire year, supported by both demand and speculation.
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In the second half of 2024, the price of osmium remained extremely high, continuing its status as the world’s most expensive metal. Demand for osmium was steady, driven mainly by its use in specialized industrial applications such as platinum alloys, pen tips, and electrical contacts that needed to withstand extreme heat. Supply remained very limited, which contributed to price stability at elevated levels.
Compared with other noble metals, osmium’s rarity and specialized uses meant it faced little direct market competition, keeping it insulated from fluctuations affecting metals like platinum or palladium.
Market observers noted that while industrial demand for some precious metals fluctuated due to global economic pressures and changes in automotive and technology sectors, osmium’s niche applications shielded it from major short-term volatility. Prices slightly edged higher toward the end of the year as manufacturers anticipated ongoing tight supply, and investors continued to see osmium as a scarce and valuable commodity.
Overall, osmium maintained a steady upward trend in H2’24, supported by its rarity, specialized industrial demand, and limited global production.
Osmium is a chemical compound with 76 as its atomic number. It is a hard, brittle, bluish-white transition metal. It belongs to the platinum group and is found as a trace element in alloys, mostly in platinum ores. It shows good resistance to corrosion and is used in some alloys as well as in industry as a catalyst.
Os
Cosmetics, Fountain pen tips, Electrical contacts, Phonograph styli, Filaments, Alloy, Other
Osmium (3+), Osmium Ion
American Elements, Russian Platinum, Johnson Matthey, BASF SE, Manilal Maganlal & Company
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Osmium is derived industrially as a by-product from nickel and copper mining and processing. Osmium is removed from the other platinum group metals by distillation or extraction with organic solvents of the volatile osmium tetroxide.
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