Rhodium Price Trend

Rhodium Prices H2 2023

In the second half of 2023, the price of rhodium in the United States reached 7662 USD/Troy Ounce.

Rhodium Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Rhodium Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of rhodium pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of rhodium at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of rhodium price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing rhodium price fluctuations, such as supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Rhodium Market Analysis

The global rhodium market size reached 22.66 Tons in 2023. By 2032, IMARC Group expects the market to reach 32.25 Tons, at a projected CAGR of 4.00% during 2023-2032.

• A major source of demand for rhodium is its use in catalytic converters for automotive exhaust systems, which helps reduce carbon emissions.
• Stricter environmental regulations across the globe are encouraging the reduction of vehicle emissions, leading to increased use of rhodium in numerous countries. Therefore, the adoption of Euro 6 and China 6 emission standards is contributing significantly to this rising demand.
• The adoption of hybrid vehicles that still require catalysts continues to drive the demand for rhodium.
• Rhodium's excellent electrical conductivity and resistance to corrosion make it valuable in the electronics industry. It is used in manufacturing electrical contacts, connectors, and circuits. The growing demand for advanced electronic devices and increasing production of consumer electronics contribute to the rising demand for rhodium.
• The aerospace sector utilizes rhodium for its high melting point, durability, and resistance to oxidation. Rhodium coatings are applied to aircraft turbine blades and other critical components to enhance performance and longevity. As the aerospace industry expands, driven by increased air travel and advancements in space exploration, the demand for rhodium in this sector is expected to grow.
• Innovations in catalytic converter technology that increase efficiency and reduce metal consumption are also positively influencing the demand for rhodium. Improved converter design can reduce the amount of rhodium required per unit, affecting overall market demand.
• In addition to automotive applications, rhodium is used in medicine for the production of nitric acid and as a catalyst. The growing use of these industrial applications contributes to the continued demand for rhodium.
• In the jewelry industry, white gold and sterling silver are coated with rhodium to improve their appearance and stain resistance. Increased consumer demand for rhodium jewelry is increasing demand.
• The rarity and high price of rhodium make it an attractive investment for hedge funds and investment requirements for individual investors seeking to diversify portfolios are impacting market dynamics, and the price.
• The use of rhodium in emerging technologies such as fuel cells and solar panels is gaining attention. As the renewable energy industry expands, the demand for rhodium in these resources is escalating.

Rhodium News

The report covers the latest developments, updates, and trends impacting the global rhodium market, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, technological innovations, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the rhodium price trend.

Latest developments in the rhodium industry:

• July 31st, 2023: Reade International Corp., a supplier of high-grade specialty materials, announced the addition of AM TZM Powder to their Additive Manufacturing Powder product line.
• February 6, 2023: US materials technology company American Elements launched AE Fusion Energy following the addition of new production facilities for the manufacture of advanced materials required in both R&D and scaled production for their range of fusion energy partner customers.

Product Description

Rhodium is a rare, silvery-white metal that is part of the platinum group of elements and is known for its high reflectance and resistance to corrosion. The vast majority of supply is a byproduct of platinum and nickel mining, South Africa is the largest producer. Additionally, the metal is prized for its catalytic properties, used widely in the automotive industry for catalytic converters (to help reduce toxic gases from an engine's exhaust), where its weight-to-price benefits outweigh environmental concerns.

Apart from automotive purposes for rhodium, it is used within the chemical sector as a catalyst in techniques inclusive of the production of nitric acid. It is also used in jewelry, where it is applied to white gold and silver jewelry to improve the look and durability. Moreover, the infrequency of rhodium in the Earth's crust, as well as the use of the metal in a variety of industrial processes results in a high market value and correspondingly useful price swings. As a precious metal, rhodium is attracting increasing investment interest, sparking newer spheres for demand while denting market dynamics.

Regional Coverage

The report provides a detailed analysis of the rhodium market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the rhodium price trend. 

Global Rhodium Price

The report offers a holistic view of the global rhodium pricing trends in the form of rhodium price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price of rhodium but also provides insights into historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed rhodium demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Rhodium Price

Europe's rhodium pricing trends are deeply affected by its stringent environmental regulations and the push towards sustainable and recycled materials. The automotive and aerospace industries in Europe, which demand high-quality specialty metals, further complicate the pricing landscape. Energy costs and the availability of renewable energy sources also significantly influence rhodium production costs. Additionally, the region's dependency on rhodium imports, coupled with fluctuating currency values, adds another layer of complexity to understanding price trends in this market.

Detailed price information for rhodium can also be provided for an extensive list of European countries.

North America Rhodium Price

In North America, rhodium prices are closely tied to technological advancements in extraction and processing techniques, which aim to reduce costs and enhance efficiency. The region's emphasis on defense and technology sectors, which require precise and high-grade metals, drives demand variability. Furthermore, trade policies, particularly those involving major trade partners like Canada and Mexico, heavily influence rhodium supply chains and pricing structures. The shift towards green energy and electric vehicles in North America also affects demand patterns for metals.

Specific rhodium historical data within the United States and Canada can also be provided.

Middle East and Africa Rhodium Price

The rhodium pricing trends in the Middle East and Africa are increasingly impacted by infrastructural developments and investments in the construction and transportation sectors. The region’s political climate and its effect on operational stability and security are also crucial in determining price trends. Additionally, the Middle East's strategic initiatives to diversify away from oil dependency and invest in mining and metal production capabilities are reshaping its market dynamics. In Africa, the availability of resources combined with foreign investment in mining projects heavily influences local and global rhodium supply and prices.

Region-wise data and information on specific countries within these regions can also be provided.

Asia Pacific Rhodium Price

In the Asia Pacific region, rhodium pricing dynamics are significantly influenced by robust industrial growth and expanding manufacturing sectors, particularly in China and India. The region's high demand for metals is driven by its active construction industry and increasing investments in infrastructure projects. However, supply disruptions due to geopolitical tensions and regulatory changes in mining practices also play a critical role in shaping price fluctuations. Additionally, trade policies and import-export tariffs continue to impact the cost structures and availability of rhodium, making the Asia Pacific market a complex environment for price trend analysis.

This rhodium price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Rhodium Price

Latin America's rhodium market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in rhodium prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, economic fluctuations and currency devaluation are critical factors that need to be considered when analyzing rhodium pricing trends in this region.

This comprehensive review can be extended to include specific countries within Latin America.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of rhodium pricing, covering global and regional trends, spot prices at key ports, and a breakdown of ex-works, FOB, and CIF prices.
• The study examines factors affecting rhodium price trend, including supply-demand shifts and geopolitical impacts, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The rhodium price charts ensure our clients remain at the forefront of the industry.