Rhenium Prices

Rhenium Prices December 2023

In the fourth quarter of 2023, the price of the rhenium in the United States reached 1067 USD/MT by December.

Rhenium Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Rhenium Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of rhenium pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of rhenium at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of rhenium price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing rhenium price fluctuations, such as supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Rhenium Market Analysis

The global rhenium market size reached 55 Tons in 2023. By 2032, IMARC Group expects the market to reach 86.06 Tons, at a projected CAGR of 5.10% during 2023-2032.

• The growing aerospace and defense sector is influencing the growth of the market positively. This is primarily due to the ability of rhenium to enhance the performance and longevity of engine components which is driving the demand for rhenium as a critical component in high-temperature superalloys used in jet engines and gas turbines. For instance, in June 2023, governments of India and the US announced the agreement between Hindustan Aeronautics Limited (HAL) and GE Aerospace to produce fighter jet engines for the Indian Air Force (IAF). This deal is being viewed as a major milestone and key element in strengthening defense cooperation between the two countries. The deal comes in the backdrop of the AIF’s efforts to enhance its capacities and capabilities.
• Ongoing innovations in material science and engineering are expanding the use of rhenium in several high-tech applications which is influencing the market growth. The exceptional heat resistance and strength of rhenium make it ideal for use in new and emerging technologies which is further driving the market demand.
• The rising use of rhenium in the medical field, including orthopedic implants is acting as a major growth inducing factor in the market. For instance, in September 2023, MiRus announced a limited market release in the US of its ATLAS MoRe Foot and Ankle Plating System, the thinnest foot and ankle plate on the market for the treatment of foot and ankle conditions. The molybdenum-rhenium alloy used in the plates allows for a dramatically smaller footprint or 1.0mm thickness without sacrificing performance. MoRe, a proprietary molybdenium rhenium super alloy for medical implants provides an unprecedented combination of strength, ductility, durability, and biological safety. The MoRe super alloy allows for the design of a new generation of smaller, stronger, more durable, and bio-friendly implants that should result in less soft tissue disruption, quick recovery, and better outcomes for patients.
• The steady demand for energy and refined petroleum products ensures a consistent need for rhenium-based catalysts.
• The increasing emphasis on sustainability and resource efficiency is supporting the recycling and reuse of rhenium which is further influencing the market growth.

Rhenium News

The report covers the latest developments, updates, and trends impacting the global rhenium market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the rhenium price trend.

Latest developments in the rhenium industry:

• In February 2023, Los Angeles-based company American Elements announced the launch of AE Fusion Energy with the addition of new production facilities to meet the growing demand for advanced materials associated with R&D & scaled production at its fusion energy partner customers.
• In June 2024, OncoBeta®, a leading medical device company specializing in innovative epidermal radioisotope therapies, announced Hospital Universitario 12 de Octubre, in Madrid, has treated its first patient with Rhenium-SCT® (skin cancer therapy) – and is expected to continue offering this therapy for patients with non-melanoma skin cancers (NMSCs).

Product Description

Rhenium refers to a silvery white, rare, heavy metal with the atomic number 75 and the symbol Re. It has one of the highest melting points of all elements, exceeded only by carbon and tungsten, and is also considered one of the densest elements. It is typically found in small quantities within ores of other metals, majorly copper and molybdenum. Its unique properties, such as its high resistance to water and heat, make it invaluable in several high-performance applications.

Rhenium is extensively employed in the production of high-temperature superalloys, which are crucial for manufacturing jet engine components and gas turbines. It serves as a significant catalyst in the petroleum industry for refining processes. It is one of the most expensive metals due to its scarcity and the complexity of its extraction. Rhenium’s specialized uses and limited availability underscore its importance in advanced technological applications.

Regional Coverage

The report provides a detailed analysis of the rhenium market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the rhenium price trend.

Global Rhenium Price

The report offers a holistic view of the global rhenium pricing trends in the form of rhenium price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of rhenium but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed rhenium demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Rhenium Price

Europe's rhenium pricing trends are deeply affected by its stringent environmental regulations and the push towards sustainable and recycled materials. The automotive and aerospace industries in Europe, which demand high-quality specialty metals, further complicate the pricing landscape. Energy costs and the availability of renewable energy sources also significantly influence rhenium production costs. Additionally, the region's dependency on rhenium imports, coupled with fluctuating currency values, adds another layer of complexity to understanding price trends in this market.

Detailed price information for rhenium can also be provided for an extensive list of European countries.

North America Rhenium Price

In North America, rhenium prices are closely tied to technological advancements in extraction and processing techniques, which aim to reduce costs and enhance efficiency. The region's emphasis on defense and technology sectors, which require precise and high-grade metals, drives demand variability. Furthermore, trade policies, particularly those involving major trade partners like Canada and Mexico, heavily influence rhenium supply chains and pricing structures. The shift towards green energy and electric vehicles in North America also affects demand patterns for metals.

Specific rhenium historical data within the United States and Canada can also be provided.

Middle East and Africa Rhenium Price

The rhenium pricing trends in the Middle East and Africa are increasingly impacted by infrastructural developments and investments in the construction and transportation sectors. The region’s political climate and its effect on operational stability and security are also crucial in determining price trends. Additionally, the Middle East's strategic initiatives to diversify away from oil dependency and invest in mining and metal production capabilities are reshaping its market dynamics. In Africa, the availability of resources combined with foreign investment in mining projects heavily influences local and global rhenium supply and prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Rhenium Price

In the Asia Pacific region, rhenium pricing dynamics are significantly influenced by robust industrial growth and expanding manufacturing sectors, particularly in China and India. The region's high demand for metals is driven by its active construction industry and increasing investments in infrastructure projects. However, supply disruptions due to geopolitical tensions and regulatory changes in mining practices also play a critical role in shaping price fluctuations. Additionally, trade policies and import-export tariffs continue to impact the cost structures and availability of rhenium, making the Asia Pacific market a complex environment for price trend analysis.

This rhenium price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Rhenium Price

Latin America's rhenium market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in rhenium prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, economic fluctuations and currency devaluation are critical factors that need to be considered when analyzing rhenium pricing trends in this region.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of rhenium pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
• The study examines factors affecting rhenium price trend, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The rhenium price charts ensure our clients remain at the forefront of the industry.