Rhodium

The rhodium market is defined by relatively stable production, growth in recycling and huge automotive demand due to increasingly stricter global emissions regulations.

                         

Source: CPM Group, Johnson Matthey, Capital Sniper Ltd.

  • Rhodium is a member of the platinum group metals (PGMs) with the symbol Rh and atomic number 45. It is mined in only 4 countries and is nearly 150 times rarer than gold.
  • Rhodium is found only as a by-product of mining nickel and platinum. Therefore, production of rhodium is somewhat dependent on the amount of nickel and platinum mining in the world.
  • Rhodium is also returned to the market via recycling through an open-loop process involving scrap yards, collectors, processors, smelters and refiners. This represents approximately 30% of yearly supply.
  • Market moved from a surplus in 2015 to a deficit in 2019 due to decline in mine supply and increasing demand.
  • High supply/demand tension expected over the next 15 years.
  • The BRD establishes the first ever direct trader market for rhodium.
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Source: Allied Research


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Source: CPM, Johnson Matthey, Capital Sniper

  • The catalytic converter market will reach $73 billion by 2025
  • Tight emission and fuel efficiency regulations are expected to fuel huge demand for catalytic converters and rhodium.
  • The Real Drive Emission (RDE) test, applicable for all vehicles, measures harmful vehicle pollutants such as NOx.
  • Rhodium is critical to catalytic converters and the integral ingredient in removing (NOx) from exhaust emissions.
  • New legislation in Europe, China and elsewhere means auto emissions are being highly controlled and regulated.
  • Automotive demand and new trader demand from TM2 could contribute to driving prices higher.

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Rhodium Overview
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