Rhodium Rides 11 Year Price High in 2020

We have not yet hit March, and yet several precious metals’ prices are already rising in high spikes. Among this list of metals is the rare rhodium. The rhodium price has quadrupled since the start of the year thanks to the increasing demand from automotive companies. This current price is an eleven year high for this metal. Countries such as China and India cultivate this upward price trend to meet global emission standards, especially with car production.

What is Rhodium? How do you use it?

Rhodium is a platinum group metal, and it is a natural byproduct of platinum mining. Three main companies produce more than half of the world's rhodium: Sibanye, Impala, and Amplats. It is estimated that Rhodium is one hundred times rarer than gold. Most of this mining occurs in South Africa. Jewelry, glass fiber production, nuclear reactors, and cars all use this precious metal.   Cars often use precious metals in their catalytic converters to control exhaust emissions and neutralize pollutants. Platinum and palladium are two other metals that are used, but platinum is used primarily for diesel convertors. Palladium is more effective for regular gasoline cars.  So why don’t companies use more palladium? Because cars need between 2.5-4 ounces of palladium to be as efficient as 1 ounce of rhodium. Rhodium can handle higher temperatures better than palladium in these catalytic converters. Rhodium's efficiency boosts the rhodium price as more industrial companies are looking to buy it up.

A Greener World Has A Price

The world is moving away from diesel to more environmentally friendly cars as a result of globally enforced regulations. Gasoline has a lower burning temperature than diesel, which makes this greener. Now car production companies, particularly in China, are buying rhodium to abide by these new global standards. Rhodium has no substitute. This increases its demand and price. Palladium is currently in acute deficit, whereas rhodium has a small surplus. This is according to Johnson Matthey, a world leader in fabricating platinum group metals for industrial purposes. 

Sell to us!

Now is a great time to sell your rhodium bullion because of the current high demand for rhodium. If you're looking for a reputable dealer with top ratings and a great reputation in the industry, check us out! We buy a variety of precious metals, in addition to diamonds and scrap metal. Our team is ready to assist you with selling your precious metals to Bullion Exchanges, your precious metals dealer in midtown Manhattan.

• Call us - at (800) 852-6884, or request a callback.
• Lock In Price - Prices are locked in with your price quote and a confirmation email.
• Ship Us Your Items - Follow the shipping instructions listed in the confirmation email.
• Get Paid - Once your shipment is received and verified, we will release your payment.

Call 1-800-852-6884 for more information or to start selling!