What is the highest price rhodium has ever been?

In February 2020, the price of rhodium was 11,665 U.S. dollars per troy ounce. By May 2020, the price decreased to below 8,000 U.S. dollars per ounce. In April 2021, the price rose to a new high of 28,775 U.S dollars, before decreasing towards the end of 2022.

What was the highest price for rhodium?

Historically, Rhodium reached an all time high of 29800 in March of 2021.

What is the future for rhodium?

Due to the COVID-19 pandemic, the global Rhodium market size is estimated to be worth USD 2228.9 million in 2022 and is forecast to a readjusted size of USD 2926 million by 2028 with a CAGR of 4.6% during the review period. The report provides company profiles, SWOT analysis, and growth insights to enhance business.

Why is rhodium price so high?

Rising demand from original equipment manufacturers (OEMs) has pushed up rhodium prices sharply since the start of January, as automakers strive to raise output as the global chip shortage starts to ease.

Is rhodium going to go up?

Since the start of 2022, rhodium prices have pushed up sharply, rising from $14,250/ozt on January 4 to reach $17,500/ozt on January 11 – the highest since September 2021.

Rhodium - Why is Rhodium the most expensive metal on earth?

Is rhodium a good investment 2021?

In April 2021, the price rose to a new high of 28,775 U.S dollars, before decreasing towards the end of 2022. In March 2022, the average price increased again, reaching over 19,000 U.S. dollars per troy ounce. By comparison, the price for an ounce of rhodium was 834 U.S. dollars in January 2017.

Will rhodium go back up in 2022?

Johnson Matthey's report shows that the palladium and rhodium markets could move back into deficit in 2022, with lower South African supplies and downside risks to Russian shipments.

What's the most expensive metal on earth?

1. Rhodium: Top Most Valuable Metal. Rhodium is the most valuable metal and exists within the platinum group of metals. It is used in jewelry for a final finish on white gold jewelry.

What's the rarest metal on earth?

The rarest metal on earth is actually francium, but because this unstable element has a half life of a mere 22 minutes, it has no practical use. Tantalum, on the other hand, is used to make capacitors in electronic equipment such as mobile phones, DVD players, video game systems, and computers.

Is rhodium a good investment?

At the end of 2019 rhodium surged to over $5,000 per ounce. Strong demand from China for auto manufacturing and lower supply from South Africa have made rhodium the strongest performing commodity in Q1 of 2020. Rhodium has also started 2021 with a surge to an all-time high of $21,900/oz.

What country has the most rhodium?

Rhodium is a platinum-group metal. In 2022, the supply of rhodium in South Africa was forecast to stand at around 575,000 ounces, making South Africa the world's largest rhodium producer.

Are there rhodium coins?

Considered to be one of the world's most expensive metals, rhodium is more rare than gold and silver combined.

What has the most rhodium in it?

How rare is rhodium? Rhodium is one of the rarest elements. It is estimated to make up only 0.0002 parts per million of the earth's crust. The largest known concentrations of it are in the Ural Mountains in Russia, in South Africa, and in Ontario, Canada.

Is rhodium better than gold?

Rhodium vs gold

Both metals are durable, precious, and costly. Jewelry can be made from solid gold, just like platinum; whereas, rhodium is only used for plating other metals. Unless you want to turn your gold jewelry silver, plating yellow gold in rhodium is not recommended.

Where can you mine rhodium?

Rhodium is obtained as a by-product from mining platinum and palladium in the USA (Montana), South Africa and Russia.

How much rhodium is in a catalytic converter?

Although the quantities vary by model, on average, only one standard catalytic converter contains about 3-7 grams of platinum, 2-7 grams of palladium, 1-2 grams rhodium. That provides serious gains when tons of scrap catalytic converters are recovered.

Why is rhodium dropping so fast?

Reduced automotive output has led to lower catalytic converters being manufactured, which weighed on rhodium demand. As a result, prices have been falling since mid-May and dropped to $11,250 on 16 September, the lowest in 2021.

Why is rhodium price so low?

We notice that rhodium prices have been crashing since the middle of May 2021 and the reason for this is that liquidity in the market is improving as supply normalizes. Johnson Matthey (JMPLF) (JMPLY) expects the deficit in the rhodium market to shrink to just 31k troy ounces in 2021.

How much rhodium is in the world?

As of May 2022, it was estimated that the global supply of rhodium stood at approximately 644,000 ounces. Rhodium is considered one of the rarest and most valuable metals in the world.

How much is rhodium vs gold?

Supply demand fundamentals

In comparison, around 2,500 tonnes of gold are are produced every year. The annual production of rhodium is a mere 1% of gold's, yet its price is only about 50% more than gold (some $1,600/oz versus some $940/oz for gold).

What do they use rhodium for?

The major use of rhodium is in catalytic converters for cars (80%). It reduces nitrogen oxides in exhaust gases. Rhodium is also used as catalysts in the chemical industry, for making nitric acid, acetic acid and hydrogenation reactions.