RE: Outlook18 Oct 2021 18:42
This from a PGM commodities broker:
Rhodium prices traded below $15,000 per troy ounce, after rebounding from a 13-month low of $11,250 hit on September 16th, as traders took a breather following months of decay in the metal’s price. Still, rhodium prices have slumped 51% since it touched an all-time high of $29,800 in late March, on concerns from the automotive industry, which constitutes roughly 90% of its demand. Global carmakers have either slowed production levels or temporarily shut down plants due to intense supply bottlenecks, namely a worldwide shortage of semiconductor chips. Heraeus Precious Metals, one of the world’s largest platinum group metal refiners, expects these chip shortages to potentially last until 2Q 2022.