Rhodium prices surged past $25,000 an ounce for the first time ever on the back of growing demand from the auto industry due to increasingly stringent emissions regulations at a time when the market faces a supply deficit. Car companies in Europe and China are using more rhodium to meet tougher clean-air legislation. Also, supply from South Africa, the biggest producer, has been disrupted by the coronavirus pandemic and lack of investment in new mines over the past decades.
Historically, RHODIUM reached an all time high of 29200 in March of 2021. RHODIUM - data, forecasts, historical chart - was last updated on March of 2021.
RHODIUM is expected to trade at 27757.52 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 23844.72 in 12 months time.