11 November 2009. Rhodium prices continue to rally on the EIB market, opening today at US$2,100/toz. The economic downturn of 2008/2009 lead to a dramatic collapse in rhodium prices. Rhodium crested at US$10,100/toz in June of 2008, only to fall to below US$1,000/toz by early December of that year. By early October of 2009, prices began to show signs of buoyancy.
Rhodium demand is strongly tied to the health of the automobile industry, with ~85 % of production going towards automotive use. Approximately 84 % of rhodium production comes from South Africa where a handful of mining companies operate in the amazing Bushveld Igneous Complex near Johannesburg.
Ruthenium prices remain flat at US$95/toz.