Rhodium futures extended their downward momentum below $11,500 an ounce, a level not seen since August 2020 and tracking losses of Palladium and Platinum futures, also used in catalytic concerts in the auto industry, amid lower demand. The world’s largest carmakers, including GM, Toyota, Volkswagen, have slashed output and sales forecasts for 2H 2021 due to the global semiconductor chip shortage. At the same time, the delta variant has kept many Asian countries under strict public-health restrictions to curb the spread of the coronavirus. In the long-run, CEOs of key mining companies, namely Impala Platinum, have said prices of the precious metal have room to moderate further until an equilibrium is reached.
Historically, RHODIUM reached an all time high of 29800 in March of 2021. RHODIUM - data, forecasts, historical chart - was last updated on September of 2021.
RHODIUM is expected to trade at 20168.50 USD/t oz. by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 24122.40 in 12 months time.