Rhodium – What Is It & How Does It Affect Scrap Prices?
Posted: June 3, 2020
The Team at RRCats.com wants to be the service company that can give you the knowledge to make the most money with your Catalytic Converters. This week we focus on the Precious Metal: Rhodium (Rh) and how that affects the price of your scrap Catalytic Converters.
What is Rhodium (Rh)?
…and how does it relate to Scrap Catalytic Converters?
Rhodium is one of the six platinum group metals: platinum, palladium, rhodium, osmium, iridium, and ruthenium. The main use of Rhodium (Rh) is in catalytic converters designed to clean vehicle emissions.
There is about 3-7% of precious metals in most Catalytic Converters. These precious metals: platinum, palladium, and rhodium for the control of vehicular emissions. However, these precious metals are very expensive and add to the cost of catalytic converters and there worth.
Rhodium (Rh) has been on a rollercoaster ride this year, it was at record highs in February of this year topping out at $13,025 per ounce. Then when the Global Pandemic related to COVID-19 hit, prices dropped at low as $2,500 per ounce. Rhodium (Rh) is on the upswing and has started to level out to where it was in December of 2019 and January of 2020.
Below you can see how Rhodium (Rh)’s price has fluctuated so far this year, as well as the averages in Q1, Q2 and so far in 2020.
|Rhodium(Rh) averages||as of June 5th, 2020|
|Q1||$9418 Per Ounce|
|Q2||$6169 Per Ounce|
|2020 average thru June||$7934 Per Ounce|
We Are Receiving Packages…
The buying team for the Catalytic Control Division at Rockaway Recycling is still up and running. Send your photos to receive a quote today!
We May Have Slight Delays…
Thank you for your patience, We will continue to receive and process your packages in 2-3 business days, but because our shipping partners are overwhelmed with “essential” deliveries, there can be a slight delay.
We at RRCats.com want to thank you for your patronage and For giving us the chance to earn your business & service your Catalytic Converter.