Rhodium Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Rhodium in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Rhodium Price Trend for the Second Half of 2023

Rhodium is an expensive and rare earth metal used extensively in a wide range of industrial applications. The automotive industry is its main industrial user, as it uses it in catalytic converters to lower toxic emissions from cars. Further, rhodium also finds applications in the glass industry to produce reflective surfaces, as a catalyst in chemical reactions, and in the manufacturing of electrical contacts.

Rhodium Price Chart

Rhodium Price Trends

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The rapid decline in rhodium prices during the last two quarters of 2023 has posed significant challenges for platinum miners around the globe. Despite record returns in previous years, the unexpected plummet in rhodium prices caught the industrial sector by surprise in the later months of the year. While there's no immediate risk of mine closures, management around the world started assessing each mine's profitability amidst the price fall.

South Africa, a major supplier of rhodium, has seen production hampered by power cuts during the same phase, which constricted the functioning of global supply chains. Further, weaker demand from China and discounted Russian metal sales contributed significantly to keeping the Rhodium prices trend towards the lower end of the spectrum.

Analyst Insight

According to Procurement Resource, the price of Rhodium is estimated to struggle with scaling down mining operations and limited demand from the downstream, particularly automotive industries, in the forthcoming quarters.

Rhodium Price Trend for the First Half of 2023

Rhodium is a precious rare earth metal that is a member of the platinum group of elements. Rhodium is a silvery-white metal with extraordinary qualities, such as excellent corrosion resistance that make it valuable for use in the manufacture of catalytic converters for cars. It also offers extraordinary reflectivity, which is frequently used as a coating for jewelry and mirrors. It is also a superior electrical conductor and has a high melting point.

In India, the price trend of Rhodium markets faced a steep decline in the profit rates as mining activities struggled to keep the market sentiments afloat. The decline in the prices was also contributed by the decrease in demand from China and the effect of Russian metal being sold at a discount in the Asian market. Its main employer is the automotive and magnetics sector, which faced several disruptions and a consistent decline in the number of sales that negatively affected the overall sentiments of the price growth of Rhodium.

Analyst Insight

According to Procurement Resource, the price of Rhodium is expected to suffer from high rates of mining and rising levels of inventories while the demand from the automotive sectors is estimated to fall.

Procurement Resource provides latest prices of Rhodium. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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Rhodium is a rare chemical element with a silvery-white appearance. It is a hard, chemically inert, and corrosion-resistant transition metal. It is a member of the platinum group. It has only one naturally occurring isotope, that is, 103Rh. Rhodium, in its powdered form, is primarily used as the cars' catalytic converter and is popular as a highly useful metallic agent.

Product Details

Report Features Details
Product Name Rhodium
Industrial Uses Catalyst, Strong, complexing agent, Alloys, Other
Chemical Formula Rh
Synonyms 7440-16-6, Rhodium fume, Rhodium on carbon
Molecular Weight 102.9055 g/mol
Supplier Database Umicore N.V, Russian Platinum , Anglo American Platinum Limited, Johnson Matthey, BASF SE, E Buddy Recyclers 
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, 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

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Production Process

  • Production of Rhodium via Extraction

Rhodium is extracted or derived as a by-product of platinum and nickel mining and processing. The product is then separated from the ores and refined before its commercial use.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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