Xtr P Rhod Etc Share Price (XRH0)

First look at PGM forecasts during Platinum Week: All five major platinum-group metals

(platinum, palladium, rhodium, iridium, ruthenium) are expected to remain in deficit in 2026

according to Metals Focus’ latest report, though the research house acknowledges that “price

outcomes will increasingly be shaped by investor flows, stock movements and policy

intervention rather than supply-demand balances alone”. Platinum is forecast to remain in a

fourth consecutive deficit of 312koz, with prices expected to consolidate at an average of

$2,190/oz in 2026 following strong investor inflows. Meanwhile, palladium is expected to have

its fifth deficit year at 376koz, but limited investor appetite will give it a forecast average price of

$1,570/oz, while rhodium’s deficit is forecast to cause above-ground stocks to fall to less than

three months of demand cover, supporting a price of $10,200/oz. Meanwhile, WPIC also

published their latest platinum quarterly yesterday, forecasting a deficit of 297koz in 2026.

Finally, Johnson Matthey published their annual PGM outlook yesterday, forecasting a 370koz

platinum deficit but offering the differentiated view of a modest surplus for palladium and

rhodium in 2026.

Still astonishing to see the willingness to pay a 50% premium to NAV in London, compared to a small discount in Frankfurt (XFRD).

Quite a different approach to invest in Rhodium!

A clear question to Deutsche Bank, why not reopen this ETC as the interest would be clearly there from investors to pile into one of the most precious of precious metals

.....and a bid price at 580!

Two weeks ago, investors were paying a 15 per cent premium over NAV, and now the bid is at minus 10 per cent!

The only Rhodium ETF which exists, unfortunately, is closed, and DB is not issuing more shares.