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The element rhodium has the atomic number 45 and the letter Rh as its symbol. It is a precious and uncommon metal that is a member of the platinum group. Rhodium is renowned for its excellent reflectivity, shiny look, and silver-white hue. It is extremely resistant to corrosion and tarnishing and has a high melting point of 1,964 degrees Celsius. Since rhodium is one of the most stable and long-lasting metals, several businesses place a high value on it.
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It is employed as a catalyst in numerous chemical reactions, including those that result in the synthesis of chemicals, medicines, and fine chemicals. It has good catalytic characteristics. In the car sector, rhodium is also used to make catalytic converters, which assist reduce toxic emissions from vehicles.
Key Details About the Rhodium Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Rhodium price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Rhodium Price analysis, including India Rhodium price, USA Rhodium price, pricing database, and chart can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
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Industrial Uses Impacting Rhodium Price Trend:
Rhodium's special qualities allow for a wide range of industrial applications. The automobile industry uses rhodium in a number of keyways. It serves as a catalyst in catalytic converters, which are essential for lowering hazardous emissions from exhaust gases from moving vehicles. Nitrogen oxides (NOx) and carbon monoxide (CO) are pollutants that can be changed into less toxic compounds owing to the catalytic characteristics of rhodium. High-quality glass and optical equipment are two major industrial applications for rhodium. Due to its excellent reflectivity and durability, rhodium is utilized as a coating material for mirrors and other reflective surfaces. Additionally, the manufacture of electrical connections uses rhodium. Due to its strong corrosion and oxidation resistance, it can be used in switches, connections, and other electrical components.
Key Players:
- Umicore N.V.
- Russian Platinum
- Anglo American Platinum Limited
- Johnson Matthey
- BASF SE
- E Buddy Recyclers
News & Recent Development
- 12 May 2023: Catalytic converter thefts are on the rise across the country. Russia could make it worse - Since 2019, there has been a sharp increase in catalytic converter thefts nationwide, and there is a potential that Russia will make things worse. Data from the National Insurance Crime Bureau show that between 2019 and 2022, thefts increased by 1,215%. The converters, often known as "cats," are made of priceless metals including platinum, palladium, and rhodium. Chemicals are used by the component, which The New York Times claims resembles a "metal hot water bottle," to convert dangerous pollutants like carbon monoxide and other gases into steam.
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