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PALLADIUMESSAY577.docx

Palladium (Pd):

The next best thing to gold, palladium, my precious. Unique like gold and platinum, palladium is a game changer in organic and organometallic chemistry.

Chemistry:

Palladium sits in the D-block (group 10) on the periodic table of elements and is identified by its atomic mass of 46. The physical appearance of the palladium metal is silvery-white and very appealing to the eye. In addition, it is a very rare metal that is often only mined in Russia and South Africa1. The palladium metal is primarily used in catalytic converters to convert harmful greenhouse gases to less harmful pollutants, but has other uses as well. The metal in its solid state is pictured below.

Palladium shares its unique value with other high value metals such as platinum, rhodium, ruthenium, iridium, and osmium1. These metals make the platinum group metals on the periodic table however, palladium has the lowest melting point (1554.9 °C) and lowest density (12.03 g/cm3) among them all1.The metal is solid at room temperature and boils at 2963 °C. A comparison of the metal among other metals in illustrated in the picture below.

Palladium has also found use in the study of organometallics. The element most widely used today in organic synthesis is palladium….there is a wide range of Pd coupling reactions available; Pd reactions are very tolerant of functionality and give predictable products2. This could be due to the fact that late metals are relatively electronegative, so they tend to retain their valence electrons. The low oxidation states, such as d8 Pd (II), tend to be stable, and the higher ones, such as d6 Pd (IV), often find ways to return to Pd (II); that is, they are oxidizing2.

Business:

As of today’s date, September 27, 2019, palladium is valued at $1,586.00 an ounce, while gold, now cheaper than palladium, is valued at $1,501.90 shown in Figure 33. A decade ago, palladium was valued at a cost less than $300 an ounce seen in Figure 2. The reason for the soaring price of palladium is due to an acute shortage, which has driven prices to a record; the supply isn’t meeting the demand4. Palladium is a key component in pollution-control devices for cars and trucks4. In addition to the car industries large demand for the precious metal, several governments such as Chinas are cracking down on pollution from vehicles forcing carmakers to increase the amount of palladium being used4. This is a no brainer considering the push to a cleaner environment to reduce our contribution to climate change.

Figure 2. The chart displays a price comparison between gold and palladium for the year 2008. During the month of September, Gold was valued at $877.80 whereas palladium was valued at $222.00.

Figure 3. The chart displays a price comparison between gold and palladium for the current year 2019. During the month of September, Gold was valued at $1501.90 whereas palladium was valued at $1586.00.

Conclusion:

Due to the fact that palladium is found alloyed with other metals such as gold and other platinum-group metals makes it very rare and expensive. A consequence of this has led to a plague of catalytic converters being stolen from cars to harvest the precious metals buried inside5. Further, businesses such as U-Haul and similar companies are being targeted because larger trucks provide not only easy access to the catalytic converter, but also a greater yield of palladium5. It’s a wise move from the thieves because larger vehicles would need more of the metal.

It is without a doubt that the market for palladium will only continue to grow. Palladium is currently being used for electrical contacts, and dental fillings and crowns5. In addition to the applications mentioned, palladium and gold are combined to form the alloy white gold which is primarily used for aesthetic purposes i.e. jewelry. In my opinion, I question whether the market for palladium will slow once the price reaches an absolute high. I also wonder if offsetting the use of palladium with other metals via subsidies would do any help to curve the demand for the metal. In addition, the recycling of the palladium metal should theoretically mean there is more of it in the market, but perhaps it is being applied to different applications than what it had originated from.

Works Cited

1. Palladium. (2019, September 23). Retrieved from https://en.wikipedia.org/wiki/Palladium.

1. Crabtree, R. (2019). Organometallic Chemistry Of The Transition Metals. S.l.: WILEY-BLACKWELL.

1. Live Palladium Price. (0AD). Retrieved from https://www.kitco.com/charts/livepalladium.html.

1. Rowling, R. (2018, December 20). Why Palladium's Suddenly an Especially Precious Metal. Retrieved from https://www.bloomberg.com/news/articles/2018-12-21/why-palladium-s-suddenly-an-especially-precious-metal-quicktake.

1. Frost, N. (2019, January 29). Thieves are breaking into cars to steal a metal more valuable than gold. Retrieved from https://qz.com/1536731/thieves-are-breaking-into-u-hauls-to-steal-catalytic-converters-for-palladium/.