Rhodium prices have been trading below $15,000 per troy ounce since mid-September, as traders took a breather following months of decay in the metal’s price. Still, rhodium prices have slumped 51% since it touched an all-time high of $29,800 in late March, on concerns from the automotive industry, which constitutes roughly 90% of its demand. Global carmakers have either slowed production levels or temporarily shut down plants due to intense supply bottlenecks, namely a worldwide shortage of semiconductor chips. Heraeus Precious Metals, one of the world’s largest platinum group metal refiners, expects these chip shortages to potentially last until 2Q 2022.
Historically, RHODIUM reached an all time high of 29800 in March of 2021. RHODIUM - data, forecasts, historical chart - was last updated on November of 2021.
RHODIUM is expected to trade at 21409.20 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 24122.40 in 12 months time.