Rhenium
Rhenium is extracted from molybdenite roaster dust at porphyry copper operations. It fortifies single-crystal superalloys, enabling turbine blades to run above 1 100 °C, and promotes high-octane gasoline in Pt-Re reforming catalysts. With global output barely 70 t, prices track aerospace build cycles. Recycling of spent superalloy scrap is climbing but limited by slow engine retirement, keeping primary roaster supply vital.
Supply Dynamics
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Chile’s El Teniente, US (Kennecott) and Kazakhstan roasters capture Re from Cu-Mo concentrate.
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Supply is hostage to copper output; low Cu prices curtail Re co-production.
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Recycling from spent turbine blades and reformer catalysts now supplies ~25 % but cannot surge quickly.
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No stand-alone Re deposits - unavoidable co-product economics cap rapid expansion.
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Strategic stockpiles in the US and EU buffer aerospace OEM demand spikes.
Demand Dynamics
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Commercial and military jet-engine orders dictate 60 % of demand.
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Industrial gas turbines for LNG and peaker plants add cyclical volumes.
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Pt-Re reforming catalysts hinge on refinery utilisation and gasoline demand.
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High-accuracy W-Re thermocouples grow with semiconductor furnace installs.
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Medical Tc-99m generators use Re-187 targets in a tiny but price-insensitive niche.