Rhodium

Rhodium fell to the USD 15,200 mark per troy ounce in early June, a level not seen since the start of the year as supply bottlenecks and weak demand continue to weigh on the automotive sector. The prevalent semi-conductor shortage and strong pandemic restrictions from top metal consumer China dampened the outlook for car sales worldwide, reducing demand for rhodium as an autocatalyst in vehicles. In the meantime, investors monitor possible trade restrictions from major producer Russia as the West continues to impose sanctions on Moscow, exacerbating the already tight global availability of rhodium. Although South Africa is a significant source of rhodium at almost 60% of the world supply, Russia accounts for 10% of the global market. Historically, Rhodium reached an all time high of 29800 in March of 2021. Rhodium is a silver-white metallic element resistant to corrosion and highly reflective. It is considered the rarest and most valuable precious metal in the world. The main use for rhodium is in catalytic converters designed to clean vehicle emissions. The biggest producer of rhodium is South Africa (60% of the world supply) followed by Russia (10%). There is no futures market for rhodium, but there are a few exchanges that trade the element including Johnson Matthey in Hong Kong. .

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