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This is a list of prices of chemical elements. Listed here are mainly average market prices for bulk trade of commodities. Data on elements' abundance in Earth's crust is added for comparison. As of 2020, the most expensive non-synthetic element by both mass and volume is rhodium.
In the modern world, iron alloys, such as steel, stainless steel, cast iron and special steels, are by far the most common industrial metals, due to their mechanical properties and low cost. The iron and steel industry is thus very important economically, and iron is the cheapest metal, with a price of a few dollars per kilogram or pound.
For each commodity they quote a range (low and high price) which reflect the buying and selling about 9-fold due to China's transition from light to heavy industry and its focus on manufacturing. [2] (China became the world's largest consumer of iron ore in 2003, [3] and accounts for over half of global metal consumption.) [4]
The interaction of the allotropes of iron with the alloying elements, primarily carbon, gives steel and cast iron their range of unique properties. In pure iron, the crystal structure has relatively little resistance to the iron atoms slipping past one another, and so pure iron is quite ductile, or soft and easily formed.
Iron ore is the raw material used to make pig iron, which is one of the main raw materials to make steel — 98% of the mined iron ore is used to make steel. [2] In 2011 the Financial Times quoted Christopher LaFemina, mining analyst at Barclays Capital, saying that iron ore is "more integral to the global economy than any other commodity ...
Mild steel (iron containing a small percentage of carbon, strong and tough but not readily tempered), also known as plain-carbon steel and low-carbon steel, is now the most common form of steel because its price is relatively low while it provides material properties that are acceptable for many applications.
This is a list of named alloys grouped alphabetically by the metal with the highest percentage. Within these headings, the alloys are also grouped alphabetically. Within these headings, the alloys are also grouped alphabetically.
A steel manufactured to have a very low thermal expansion: 36% Ni: Kamacite: A native metal found in meteoric iron: Fe [0.9] Ni [0.1] Maraging steel: A strong, malleable variant of steel: 15–25% Ni: Meteoric iron: A native combination of mostly kamacite and taenite, and minor amounts of tetrataenite, antitaenite, and awaruite: 5–30% Ni: Mu ...