Rhodium futures were trading below $20,000 an ounce, a level not seen since January, as China’s steps to cool soaring commodity prices forced investors to liquidate long positions after a recent rally that drove prices to a record level of $29,800. Still, continued robust demand from the auto industry due to increasingly stringent emissions regulations globally, together with the threat of lower supply amid a lack of investment in new mines over the past decades, should continue to drive prices higher in the long run.
Historically, RHODIUM reached an all time high of 29800 in March of 2021. RHODIUM - data, forecasts, historical chart - was last updated on August of 2021.
RHODIUM is expected to trade at 19768.08 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 23731.74 in 12 months time.