Rhodium traded flat at 9,950 USD/t oz. on April 16, 2026. Over the past month, Rhodium's price has fallen 12.72%, but it is still 84.26% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Rhodium - values, historical data, forecasts and news - updated on April of 2026.

Rhodium is a precious metal that removes pollutants from vehicle exhaust fumes. In February 2020, the price of rhodium was 11,665 U.S. dollars per troy ounce. By May 2020, the price decreased to below 8,000 U.S. dollars per ounce. In April 2021, the price rose to a new high of 28,775 U.S dollars, before decreasing throughout 2022 and early 2023. By December 2024, the average price significantly decreased, reaching around 4,575 U.S. dollars per troy ounce. In comparison, the price for an ounce of rhodium was approximately 5,905 U.S. dollars in August 2022. The rarest metal: Rhodium Rhodium is a rare and precious metal that belongs to the platinum group metals (PGMs), along with platinum, palladium, osmium, iridium, and ruthenium. Due to its scarcity, it is one of the most valuable metals in the world, often exceeding the price of gold. Rhodium is extensively used in the automotive industry to manufacture catalytic converters that reduce harmful emissions. Over the last few years, even with a steady supply, Rhodium demand has risen significantly, exceeding supply due to stricter emission regulations and advancements in the automobile industry. The significance of PGMs in South Africa South Africa is rich in various natural resources, such as metals and minerals. For example, almost all of the total global reserves of PGMs are in South Africa. In 2023, PGMs generated the highest revenue share in the South African mining sector compared to other commodities, amounting to 370 billion rands.

The average price for rhodium in 2023 was roughly 6,660 U.S. dollars per troy ounce, marking a decrease of almost 9,000 U.S. dollars per ounce in price compared to the previous year. Rhodium is a noble metal and a platinum group metal. The main use of rhodium is as an autocatalyst.

In 2025, the price of platinum is forecast to hover around ***** U.S. dollars per troy ounce. Meanwhile, the cost of per troy ounce of gold is expected to amount to ***** U.S. dollars. Precious metals Precious metals are counted among the most valuable commodities worldwide. The most well known such metals are gold, silver and the platinum group metals. A precious metal can be used as an industrial commodity or as an investment. The major areas of application include the following sectors: technology, car-making, industrial manufacturing and jewelry making. Furthermore, gold and silver are used as coinage metals, and gold reserves are held by the central banks of many countries worldwide in order to store value or for use as a redemption medium. The idea behind this procedure is that gold reserves will help secure and stabilize the countries’ respective currencies. At ***** tons, the United States is the country with the most extensive stock of gold. It is kept in an underground vault at the New York Federal Reserve Bank. Russia, the United States, Canada, South Africa and China are the main producers of precious metals. Silver is the most abundant of the metals, followed by gold and palladium. Barrick Gold is the world’s largest gold mining company. The Toronto-based firm produced some **** million ounces of gold in 2020. The leading silver producers include Mexico-based Fresnillo, Poland’s KGHM Polska Miedž and the mining giant Glencore. Anglo Platinum and Impala are the key mining companies to produce platinum group metals. In 2023, Silver prices are expected to settle at around **** U.S. dollars per troy ounce. It is expected to remain the precious metal with the lowest value per ounce. The price of gold is forecast to drop to around ***** U.S. dollars per ounce, making it the most expensive precious metal in 2023.

Rhodium Prices in Feb 2026: China $384/gram and India $476/gram. Analyze MoM, YoY trends, historical graph, and precious metal outlook.

Recycling of Platinum Group Metals Market Outlook 2025-2034

The global recycling of platinum group metals (PGM) market was valued at $8.6 billion in 2025 and is projected to expand to $16.2 billion by 2034, registering a compound annual growth rate of 7.3% from 2026 to 2034. The market is driven by a confluence of structural forces including record-high PGM spot prices, accelerating end-of-life (EOL) vehicle scrappage, tightening global emissions regulations, and the strategic imperative of building resilient secondary-supply chains as primary mine output from South Africa, Russia, and Zimbabwe faces mounting geopolitical uncertainty. Platinum group metals, which comprise platinum, palladium, rhodium, iridium, ruthenium, and osmium, are among the scarcest and most strategically critical elements on Earth. Their concentration in autocatalysts, industrial process catalysts, electronic components, and jewelry means that recovering even minute quantities from waste streams offers substantial economic and environmental value. As of 2025, secondary supply of PGMs accounts for roughly 32% of total global PGM supply, and industry analysts anticipate this share will climb to approximately 44% by 2034 as collection infrastructure, metallurgical technology, and policy frameworks mature. The surge in palladium prices, which crossed $2,200 per troy ounce in early 2025, and continued rhodium premiums exceeding $4,500 per troy ounce, have made secondary recovery economically compelling even for lower-grade feed materials. Simultaneously, the expansion of battery-electric vehicles (BEVs) and hydrogen fuel-cell electric vehicles (FCEVs), which themselves utilize PGMs in membrane electrode assemblies, is reshaping demand profiles while creating entirely new end-of-life recycling streams that are expected to ramp up significantly through the 2030s. Government mandates in the European Union requiring extended producer responsibility (EPR) for catalytic converters, South Korea's resource circularity law, and the U.S. Critical Minerals Strategy all reinforce formal PGM recycling channels, improving collection rates and metallurgical throughput. The combination of price momentum, regulatory tailwinds, and green-economy demand creates a compelling long-term growth thesis for the recycling of platinum group metals market through 2034.

PGM Recycling and Refining Market Outlook 2025-2034

The global PGM recycling and refining market was valued at $17.4 billion in 2025 and is projected to reach $29.8 billion by 2034, expanding at a compound annual growth rate of 6.2% during the forecast period 2026-2034. Platinum group metals, comprising platinum, palladium, rhodium, iridium, ruthenium, and osmium, are among the most valuable and scarce elements on earth, driving powerful economic incentives for secondary recovery. The PGM recycling and refining industry sits at the intersection of environmental sustainability, critical materials policy, and high-value commodity trading, making it one of the most strategically significant sub-sectors within the broader specialty chemicals and precious metals ecosystem. Rising secondary supply from end-of-life automotive catalytic converters, spent industrial catalysts, electronic waste streams, and jewelry scrap is reshaping global supply chains as primary mine output from South Africa, Russia, and Zimbabwe struggles to keep pace with escalating demand. Regulatory tailwinds in the form of stringent vehicular emission standards under Euro 7, China 6b, and Bharat Stage VI norms are compelling automakers to use higher PGM loadings per vehicle, simultaneously amplifying future recycling volumes. The gradual penetration of fuel cell electric vehicles, which use platinum-based catalysts in proton exchange membrane stacks, is creating a new long-cycle recycling loop that market participants are racing to capitalize on. Hydrometallurgical refining advances, particularly solvent extraction and ion exchange processes, are enabling recovery efficiencies exceeding 99% for palladium, while pyrometallurgical smelting continues to serve as the dominant front-end processing technology for high-volume, heterogeneous feed materials. Government strategic reserve policies, supply chain de-risking mandates following the 2020-2022 rhodium price spike to over $29,000 per troy ounce, and the acceleration of circular economy frameworks in the European Union and Japan are collectively reinforcing long-term investment in the sector.

Continuously updated Monex bid/ask prices for spot metals and common bullion bars and coins.

Palladium rose to 1,589 USD/t.oz on April 16, 2026, up 0.03% from the previous day. Over the past month, Palladium's price has fallen 2.69%, but it is still 67.97% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Palladium - values, historical data, forecasts and news - updated on April of 2026.

As of May 2025, it was estimated that the global supply of rhodium stood at approximately 691,000 ounces. Rhodium is considered one of the rarest and most valuable metals in the world. Rhodium: the rare PGM Rhodium is a silver-colored platinum group metal (PGM) that is highly reflective and resistant to corrosion and oxidation. Platinum group metals include rhodium, platinum, ruthenium, iridium, osmium, and palladium. Rhodium is the rarest metal in the platinum family and occurs in the Earth’s crust at a rate of around one part per 200 million. It is primarily used in catalytic converters to clean motor emissions or as a finishing metal for jewelry. Despite having a stable supply globally, the demand for rhodium has been increasing over time. Platinum-group metals: expensive precious metals Platinum-group metal mine production has been stable in recent years. Platinum is one of the most expensive metals to produce due to its low concentration within the ore from which it is mined. The price of production varies greatly between the countries in which it is produced, with South Africa having the highest cost of production for platinum. The world’s leading producer of platinum as of 2019 was Anglo American Platinum Ltd.

Precious Metal Market Outlook 2025-2034

The global precious metal market was valued at $348.6 billion in 2025 and is projected to reach $612.4 billion by 2034, registering a compound annual growth rate (CAGR) of 6.5% during the forecast period from 2026 to 2034. Precious metals, encompassing gold, silver, platinum, palladium, and a range of other rare metals including rhodium, iridium, and ruthenium, continue to serve as cornerstones of the global financial system, industrial supply chains, and consumer goods sectors. The market is experiencing a structural demand shift, with investment applications expanding rapidly as institutional and retail investors alike seek inflation hedges and portfolio diversification tools. Central banks across emerging and developed economies have collectively added more than 1,037 tonnes of gold to their reserves in recent years, underscoring the enduring monetary role of these assets. Simultaneously, the green energy transition has significantly amplified industrial demand for platinum and palladium, which are critical components in automotive catalytic converters, hydrogen fuel cells, and electrolysis systems. Silver's dual role as both a monetary metal and an industrial input for photovoltaic solar panels has positioned it as one of the fastest-growing sub-segments within the broader market. Geopolitical tensions across Eastern Europe and the Middle East, combined with persistent inflationary pressures in major economies, have reinforced safe-haven buying behavior among investors, lending substantial upward momentum to gold prices, which surpassed the $2,500 per troy ounce threshold in 2025. Supply-side constraints, particularly around mining output from key producing regions in sub-Saharan Africa and South America, have further tightened market conditions. The convergence of monetary policy uncertainty, technological transformation in the automotive and energy sectors, and sustained cultural demand for gold and silver jewelry in Asia-Pacific markets creates a compelling multi-decade growth narrative for the precious metal market through 2034.