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RHODIUM
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The market
for rhodium in 2000 was characterised by strong consumer demand
and tight physical availability, which combined to force the
price up from $1,000 at the beginning of the year to just
over $2,000 at the end of December, having touched $2,600
in August. This was despite record shipments of the metal
from Russia.
Autocatalyst
Demand for rhodium in autocatalysts rose in all regions. Additional
rhodium was needed to meet tougher emissions standards in
Europe, Japan and the USA, while several automakers increased
rhodium loadings to help them minimise the growth in palladium
demand that was also occurring last year. It seems likely
that many companies may follow this trend in future years
as they try to reduce their dependence on palladium.
Japan also saw the introduction of more stringent emissions
legislation in 2000, although the new standards were not enforced
until October. Many auto makers chose to fit catalyst systems
capable of meeting the new limits ahead of the deadline and
this helped boost demand for rhodium.
Imports of rhodium by the USA in January 2000 rose dramatically,
with no less than 161,000 oz the metal being imported from
Russia.
Demand for rhodium in other applications rose by almost 10
per cent to 92,000 oz last year. Sales to the glass industry
were particularly strong, with rhodium demand increasing by
a fifth to 42,000 oz, largely as a result of investment in
new plants to manufacture the high quality, thin glass used
in liquid crystal displays (LCDs).
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