Rhodium Prices Reaches Highest Level In Seven Years

Rhodium prices resumed their upward trend after a brief pause reaching the highest level in more than seven years at $1,860 an ounce. Reports of sustained industrial consumer interests have buoyed the market. Price charts suggest $1,900 an ounce as potentially the next level with $2,000 an ounce now appearing in sight.

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Also in this week’s Platinum Market Review:

-Platinum prices trailed lower last week along with gold and palladium, falling below $1,000 an ounce

-Norilsk, the world’s largest palladium producer, reported a 6.2% increase in its palladium production in fiscal 2017

-South African miner Lonmin produced 164,488 ounces of platinum concentrates in its first quarter to December, 7.6% greater than that of the comparable period of fiscal 2017

-Gold prices eased off earlier 17-month highs of $1,365 an ounce

-Results from last week’s Fed meeting

Click HERE to read the February 5, 2018 Platinum Market Review

Disclaimer: 

Material contained in this report is based upon publicly available market data believed to be accurate and reliable and is presented for informational purposes only. KMR assumes no warranty or liability for its completeness, nor guarantees future market performance. Further, KMR assumes no liability for direct or indirect loss or damage from the use of information contained in this report, or from any unforeseen errors or omissions.

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About the author

Patrick Magilligan

PGM sales veteran Pat Magilligan is the Director of PGM Marketing at Key Metal Refining LLC. Magilligan has over three decades of experience in commodities trading, sales, and research, working with the likes of Merrill Lynch, Prudential Securities, and A-1 Specialized Services & Supplies Inc.