From the USA Gold site:
Black Blade (02/04/00; 05:36:06MDT - Msg ID:24276)
Rhodium races higher, trades above $2,300
This just in! Not even a gram available! hmmmm.......
LONDON, Feb 4 (Reuters) - Rhodium prices were firm on Friday in Europe, with spot metal jumping to $2,300/$2,425 an ounce, up some $250 from Thursday and its highest since September 1992. Traders said a potent cocktail of a lack of spot metal, panic consumer demand and the strength of all the platinum group metals (PGMs) pushed a thin rhodium market higher.
Traders said rhodium had changed hands at $2,300 an ounce and above this morning. "It is soaring again...there is just no supply and the consumers are panicking," a trader said. Rhodium, used with platinum in the production of autocatalysts for cleaning motor exhaust fumes, is being driven higher by short supply. "It is red-hot and there is nothing in Tokyo, not even a gram," another trader said.
Japanese usage in catalysts is increasing, borrowed metal is not being returned to the market, and major producer Russia is not supplying metal, traders said |
