The global rhodium market: current trends and prospects

The research is devoted to analysing the current state of the market of the most expensive platinum group metal over the last thirty years - rhodium. The study considers the main problems of the global rhodium market over the last decade. Based on the analysis of global export-import transactions in 2022, South Africa, Germany and the US were the largest exporters of rhodium, while the US, Japan and Germany were the largest importers. Rhodium exports and imports have been growing at an intensive pace since 2018 owing to the increasing mining, production, and refi of the noble metal in question. Leading companies in the rhodium market are locating mining plants in South Africa owing to its rich raw material base. South Africa has been the leading producer and supplier of rhodium, either unprocessed or in powder form, for the past thirty years. Of all platinum group metals in 2022, South Africa exported 34 per cent of unprocessed rhodium and 10 per cent of rhodium in semi-fi products, which is why rhodium is such an important commodity for the South African economy. The world’s leading companies also include Russia’s Nornickel, which ranks 5th on the world stage for rhodium production in 2022. An econometric method was used to analyse world exports which has a high accuracy of approximation. The trends in the global rhodium market have been substantiated with the help of research and literature analysis. The impact of economic, environmental and political crises on the global rhodium price dynamics has also been examined. One of the objectives of this study is to identify the prospects of international rhodium trade and the possibility of investment in rhodium. Limited supply and unstable demand can cause huge fl in rhodium prices, which aff investors’ decision making. Compared to other precious metals, rhodium is considered not attractive for investment. The expansion or contraction of the automobile industry has a direct impact on the demand for rhodium.