A rare and expensive metal, rhodium has the atomic number 45 and the letter Rh as its symbol. It belongs to the platinum family of metals and is identified by its beautiful silver-white hue. The value and industrial applications of rhodium are influenced by a number of significant characteristics. Due to its excellent corrosion and oxidation resistance, it is perfect for use in adverse environments. It is also recognized for its high melting point, extraordinary toughness, and longevity.
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Due to its low electrical resistance and high reflectivity, it performs well in electrical connections and mirror coatings. Particularly in catalytic converters, rhodium is an extremely powerful catalyst for reducing automobile emissions.
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:
One of the principal uses of rhodium is in the catalytic converters of automobiles. Rhodium-based catalysts are used to transform nitrogen oxides (NOx), which are particularly dangerous, into less harmful nitrogen and oxygen, assisting in the reduction of toxic emissions from vehicle exhaust fumes. Rhodium is also used in the production of improved electrical connections. Due to its superior corrosion resistance and strong electrical conductivity, it is suitable for switches, connections, and other electrical components. To increase the durability and reflectivity of mirrors, it is used as a coating substance. Additionally, since fiber optic cables are made with it, signals can be sent more effectively. This metal is also used as a catalyst for several chemical reactions in the chemical sector. It is used in procedures like hydrogenation, hydroformylation, and the generation of acetic acid.
Key Players:
- Umicore N.V.
- Russian Platinum
- Anglo American Platinum Limited
- Johnson Matthey
- BASF SE
- E Buddy Recyclers
News & Recent Development
- 12 May 2023: UCF Researchers Work to Reduce the Amount of Precious Metals in Catalytic Converters – The 1970s saw the widespread adoption of catalytic converters, which use precious metals as catalysts to help remove dangerous and fatal compounds from combustion engine exhaust. The number of stolen catalytic converters has increased along with the price of precious metals. UCF researchers recently demonstrated that they could use atomic platinum to control pollutants and run the system at lower temperatures, which is essential to removing harmful chemicals when a vehicle first starts. These studies, which were published in Nature Communications and the Journal of the American Chemical Society, respectively, were published in recent months.
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