Rhodium, with atomic number 45 and the symbol Rh, is a precious and uncommon metal. It is a member of the platinum group of metals and is distinguished by a brilliant silver-white color. Numerous noteworthy qualities of rhodium contribute to its value and industrial uses. It is ideal for usage in hostile situations due to its great resistance to corrosion and oxidation. Additionally, it is renowned for having a high melting point, exceptional toughness, and longevity.
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It works well in electrical connections and mirror coatings thanks to its low electrical resistance and great reflectivity. Rhodium is a very effective catalyst, especially in catalytic converters for lowering vehicle emissions.
Key Details About the Rhodium Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Rhodium price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Rhodium Price trend, including India Rhodium price, USA Rhodium price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
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Industrial Uses Impacting Rhodium Price Trend:
The precious and rare metal rhodium is used in various industrial applications. Rhodium is primarily used in catalytic converters for automobiles, which is one of its main uses. Nitrogen oxides (NOx), which are particularly hazardous, are converted into less damaging nitrogen and oxygen using rhodium-based catalysts, which aid in reducing harmful emissions from vehicle exhaust fumes. Additionally, the manufacture of superior electrical connections uses rhodium. It is appropriate for switches, connections, and other electrical components due to its good corrosion resistance and strong electrical conductivity. It is used as a coating material for mirrors for improved durability and reflectivity. Additionally, it helps fiber optic cables transmit signals more effectively by being used in their manufacture. This metal is also used as a catalyst for several chemical reactions in the chemical sector. It is used in procedures like hydrogenation, hydroformylation, and the generation of acetic acid.
Key Players:
- Umicore N.V.
- Russian Platinum
- Anglo American Platinum Limited
- Johnson Matthey
- BASF SE
- E Buddy Recyclers
News & Recent Development:
- 12 May 2023: New Age Metals says it is encouraged with results from rhodium study at River Valley project- The CEO claimed that it makes sense to revisit the core that is already present and re-assay to obtain rhodium as a payable metal in addition to the other metals present at the project. Rhodium is trading for close to $8,000 an ounce, five times more expensive than palladium and seven times more expensive than platinum. The samples, according to Barr, were taken from four metallurgical drill holes at the project that were finished in 2021. The highest assay result showed 0.306 grammes per tonne (g/t) of rhodium.
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