It is one of the platinum group metals. And Rhodium is rare , obtained in very small quantities as a byproduct of platinum and nickel mining, principally in Canada and Russia.
Because it is so rare in nature and so difficult to obtain, it is in great demand from sources that include jewelry and catalysts. Back in , a scientist named William Wollaston found a way to extract rhodium from platinum and palladium ore. Then everything changed in the mids when catalytic converters were first introduced to reduce the pollutants in automobile exhaust emissions. They contained rhodium and since then, the demand for it has remained strong. Some examples:. Those items really are selling for those low prices.
What is going on? How can that be? A tiny amount of rhodium is enough to add a bright, shiny surface to a ring or another piece of jewelry. Rhodium is used because it is bright, tarnish-resistant, and abrasion-resistant. It has a beautiful bright finish, not unlike platinum.
And it retains all those properties, even when only a thin layer is applied to other metals. With platinum in oversupply and depressed in price since , the South African mining companies face a conundrum: if these companies choose to mine more platinum to take advantage of the by-product rhodium, there is risk of oversupplying the platinum market and depressing prices further.
Additional issues that plague the mining sector in South Africa include:. Considering that emissions legislation globally is tightening, does all of this mean that rhodium prices will keep rising? While rhodium is superior at what it does and loadings of the metal will always be present in auto-catalysts, it can be partially substituted with higher loadings of palladium.
With considerable palladium supply coming from Russia and North America, palladium is more diversified than that of its rarer sister metal, rhodium, and therefore easier for auto-catalyst manufacturers to procure.
Stephen Forrest, the co-founder of a leading PGM research firm SFA Oxford bought by the South African mining company Sibanye Stillwater in late , was quoted saying he believed that semi-fabricators would start to substitute rhodium in auto-catalysts with palladium.
However, if or until such substitution is possible global palladium supply is also in deficit relative to demand , there is likely to be more upside for rhodium prices to reach new highs in the coming years. Click here to contact us. Please Paste this Code in your Website. 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. There is no futures market for rhodium, but there are a few exchanges which trade the element including Johnson Matthey in Hong Kong. Brazilian Equities Snap 3-Day Winning Twitter is an American microblogging and social networking service on which users post and interact with messages known as "tweets".
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