Rhodium is the most expensive non-radioactive metal in the world. It’s a few times more expensive than gold. Retail price per troy ounce is $11,450.
1 troy ounce = 31.1 gram.
Rhodium mainly used in catalytic converters to clean vehicle emissions by reducing nitrogen oxide in exhaust gas. Metal alloy (rhodium, platinum and iridium) is used to make high melting point alloys. This metal is used in aircraft turbine engines, coating of optic fiber, headlight reflectors. Recently rhodium stated using in jewelry industry.
80% of rhodium comes from mining in South Africa. 68% of world’s rhodium supply comes from three major companies – Sibanye, Impala and Amplats. Price of rhodium grown rapidly in last two years, $2000 -> to 11,000 per troy ounce.
The main reason behind price growth is more regulations on car’s exhaust system. Also it’s extremely rare non-radioactive metal. Only a few companies in the world do successful rhodium mining.
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