By Nikozil - 19.01.2020
Rhodium price september 2020
CPM Group Tuesday September 22, Rhodium prices rose during August and into early September, reaching a record $14, on 15 September. 45 Rh Rhodium. $ / Ounce. Rhodium 30 October Umicore 10am Price. 13, Export PDF icon · CSV icon PNG icon. From. , , ,
Yet the next afternoon a group of shifty characters were spotted sawing off its catalytic converter. Such incidents have rhodium price september 2020 increasingly frequent across Britain as prices for palladium and rhodium, precious metals contained in the devices, have rocketed.
There is no telling when it will fall back to earth.
Surging demand from carmakers is partly to blame. More than four-fifths of global demand for both rhodium and palladium comes from the automotive industry. Facing stricter emissions regulations around the world, carmakers are taking even more of rhodium price september 2020 shine to these metals.
Although the price of palladium has reached a record high, that of platinum has stayed relatively stable.
That contrast reflects a shift in production towards petrol and hybrid cars, which tend to use greater quantities of palladium rhodium price september 2020 their converters, and away from diesel engines, which rhodium price september 2020 more platinum.
Rhodium is used in both petrol and diesel cars.
That is because it is especially good at cleaning up nitrogen rhodium price september 2020, says Roger Breuer, an analyst at Arlington Group Asset Management, an investment firm.
More than four out of every five ounces of rhodium are mined in South Africa, extracted in minuscule quantities alongside more abundant metals such as platinum, palladium and gold.
Rhodium is expected to remain in high demand this year. But because electric vehicles do not use catalytic converters, demand in the longer term is far from assured.
Rhodium could quickly lose its sheen.
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