Rhodium Price in USA
- United States: 7662 USD/Troy Ounce (H2 2023 Avg Price)
In the second half of 2023, the price of rhodium in the United States reached 7662 USD/Troy Ounce.
The latest report by IMARC Group, titled “Rhodium Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” provides a thorough examination of rhodium prices. This report delves into the globally, presenting a detailed analysis, along with informative rhodium price chart. Through comprehensive price analysis, the report sheds light on the key factors influencing these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the demand, analyzing how it impacts market dynamics. To aid in strategic planning, the price forecast section provides insights into price forecast, making this report an invaluable resource for industry stakeholders.
Report Offering:
- Monthly Updates: Annual Subscription
- Quarterly Updates: Annual Subscription
- Biannually Updates: Annual Subscription
The study delves into the factors affecting rhodium price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
Request For a Sample Copy of the Report: https://www.imarcgroup.com/rhodium-pricing-report/requestsample
Rhodium Price Trend- Last Quarter
Rhodium is a rare, silvery-white metal that belongs to the platinum group of metals (PGMs) on the periodic table. Known for its exceptional reflective properties, rhodium is commonly used as a coating material to enhance the appearance and durability of jewelry and decorative items. This metal is highly resistant to corrosion and oxidation, making it an ideal choice for high-temperature and high-stress environments. Rhodium’s unique characteristics include its high melting point, superior hardness, and significant electrical conductivity, which make it an essential component in various industrial applications. In the automotive industry, rhodium is a crucial element in catalytic converters, where it serves to reduce harmful emissions by converting nitrogen oxides into less harmful substances. The metal is also used in the chemical industry as a catalyst for chemical reactions, particularly in the production of nitric acid, acetic acid, and hydrogenation processes. Due to its rarity and the complexities involved in its extraction, rhodium is one of the most expensive metals in the world.
Rhodium Industry Analysis
The global rhodium market is driven by the automotive industry’s ongoing need for rhodium in catalytic converters, which is crucial for meeting stringent emission standards. As governments around the world enforce stricter environmental regulations to reduce vehicle emissions, the demand for rhodium has surged, particularly in regions such as North America, Europe, and Asia. This trend is expected to continue as automakers increase production of vehicles equipped with advanced emission control technologies, boosting the rhodium market.
Additionally, rhodium’s unique catalytic properties are fueling its demand in the chemical industry, where it is used to accelerate various chemical reactions. The expansion of industries that rely on these reactions, such as pharmaceuticals and agrochemicals, is positively influencing the rhodium market. Another significant trend impacting the market is the limited supply of rhodium. Since rhodium is mainly extracted as a by-product of platinum and nickel mining, fluctuations in the production of these metals directly affect rhodium availability, leading to market volatility. This scarcity, coupled with the rising demand, has led to substantial price increases, making rhodium a valuable commodity for investors and speculators. Technological advancements and innovations are also shaping the global rhodium market. The development of new catalytic converter technologies that require higher amounts of rhodium has further propelled demand.
Furthermore, advancements in recycling technologies are becoming increasingly important as they provide a secondary source of rhodium, which is vital given the metal’s limited primary supply.
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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