Rhodium futures tumbled below the 14,000-an-ounce mark in June, a level not seen since October last year, as supply bottlenecks and weak demand continue to weigh on the automotive sector. The prevalent semi-conductor shortage and pandemic restrictions in top metal consumer China dampened the outlook for car sales worldwide, reducing demand for rhodium as an autocatalyst in vehicles. In the meantime, investors monitor possible trade restrictions from major producer Russia as the West continues to impose sanctions on Moscow, exacerbating rhodium's already tight global availability. Although South Africa is a significant source of rhodium at almost 60% of the world supply, Russia accounts for 10% of the international market.
Historically, Rhodium reached an all time high of 29800 in March of 2021. Rhodium - data, forecasts, historical chart - was last updated on June of 2022.
Rhodium is expected to trade at 24122.40 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 27181.12 in 12 months time.