Raging Rhodium: Platinum group metal rockets to record...
Rhodium has roared into 2021 like a lion on steroids. The price of the platinum group metal (PGM), a crucial catalyst to cap emissions generated by petrol engines, shot to record highs above $20,000 an ounce on Wednesday, extending a 2020 rally with no end in sight. Emissions standards are tightening and supplies are falling woefully short of anticipated demand, triggering a mad scramble to secure the commodity. Rhodium’s price has gained almost 20% in the past fortnight and an astonishing 3,000% over the past five years. Two key factors are behind the latest surge. One is Chinese auto ...
Source: dailymaverick.co.za