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Rare earth elements are the most distributed of all the family. They are important for 21st century “green technology of metal” and “key” minerals. Laser weapons, spacecraft on key materials can be used to create laser weapons. The actual worldwide production of scandium in 2016 was less than one ton. That means every person who is more than seven thousand can obtain 1 gram. The availability of scandium, which is rarer than rare earth, rare-earth, or gold, makes it more costly than other rare minerals. Independent minerals have been found only in Madagascar and Europe, with no industrial application. Nelson in Sweden, a Swedish chemical chemist, discovered Scandium during 1879 in the Siyllium–ytrium and Heilinite Gold mines of Scandinavia. Scandium can often be found dispersed within minerals with other elements. This makes it impossible for the naked eye to locate scandium. Scandium is difficult to extract. To extract scandium metal successfully for the first time, it was half a century after its discovery.
Scandium metal prices
Most scandium products sold on international markets are scandium metal scandium or scandium dioxide. Price is determined by the level of purity. 2017 saw the cost of 99.99% pure scanningdium oxide at $4,600 per kg. However, the price for distilled metal scandium reached $226,000 per kg. This is five times more than the gold price ($44,445/kg). Scandium prices have fluctuated greatly, and they fell between 1990-2006. Let’s take the distilled metallic scandium for an example. Scandium’s price was high in 1993 at $372,000/kg. In 2005, however, it dropped to $162,500/kg. The prices of scandium have increased since 2006. In the rare Earth family, it is much more expensive that other light-rare earths. It also costs more than the rare heavy metals terbium, dysprosium, and terbium. When rare earths prices rose, for instance, the scandium oxide (91%) price in China was 26,000 Yuan/kg. This is more than double the europiumoxid (12,000 yuan/kg), or terbiumoxid (10,200yuan/kg), two of the highest-priced rare earth oxides.
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