Rhodium (Rh) is a rare earth element that is silvery-white in color. It is a hard metal that is resistant to corrosion and chemically inert in nature. It is a noble metal that is also a member of the platinum group of metals. It is found naturally in platinum and nickel ores. Its melting and boiling points are measured at around 2237° C and 3968° C, respectively.
It is a strong, durable metal that shows high reflectance. It does not form oxides when reacted with oxygen, even when heated. It does not react with acids, specifically nitric acid. However, it is slightly soluble in aqua regia. It is commercially used in fuel manufacturing and nuclear energy sectors.
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The key importing countries for Rhodium are India, the United States, and Germany. On the other hand, the key exporting countries for the same are India, Italy, and Germany.
Key Details About the Rhodium Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Rhodium price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Rhodium Price chart, including India Rhodium price, USA Rhodium price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Rhodium Price Trend:
Rhodium is primarily used to manufacture alloys by combining with other commercial metals that can be used on a large scale. It is used as a catalyst in the production of various chemical compounds. Rhodium is used to manufacture parts of several machinery, including furnace coils, electrodes for aircraft spark plugs, engines, and laboratory cubicles.
Additionally, it is used in designing and manufacturing vehicle catalytic converters, where it helps to cut down the nitrous oxide in vehicle exhaust. It can be electroplated on other metal objects and polished to give an attractive, shiny surface that can be used to craft various jewellery and decorative items. One of the primary uses of Rhodium metal is in nuclear reactors, nuclear fuels, and thermocouple elements.
Key Players:
- Umicore N.V
- Russian Platinum
- Anglo American Platinum Limited
- Johnson Matthey
- BASF SE
- E Buddy Recyclers
News & Recent Development
- Date: February 21, 2023- The plastics manufacturer, Shandong Fiberglass Group, plans to utilize its fixed assets of Rhodium powder to stabilize its financial performance.
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