How Much Is Rhodium Worth? Current Price & Market Value

Rhodium, a member of the platinum group metals, is one of the world’s rarest and most valuable precious metals. This silvery-white element possesses unique properties, including exceptional hardness, high reflectivity, and remarkable resistance to corrosion. Its chemical stability and ability to withstand extreme temperatures make it indispensable in various industrial applications.

The primary demand for rhodium stems from its use in automotive catalytic converters, where it plays an important role in reducing harmful vehicle emissions. Beyond the automotive sector, its unique characteristics also make it valuable in other niche industries. The combination of its scarcity and industrial utility contributes to its significant market attention.

Current Market Value of Rhodium

Rhodium’s market value is volatile. As of August 28, 2025, the price of rhodium hovers around $7,250 per troy ounce. This spot price represents the cost for immediate delivery in commodity markets, though dealers typically add a premium.

To track the real-time value of rhodium, consult reputable financial news outlets, specialized precious metals dealers, or commodity market data providers. These platforms often display live price charts, showing current bid and ask prices, along with 24-hour highs and lows. Rhodium is commonly quoted in standard units such as per troy ounce, per gram, or per kilogram.

A troy ounce, frequently abbreviated as “t oz,” is approximately 10% heavier than the more common avoirdupois ounce used for most other goods in the United States. The troy weight system is the industry standard for precious metals, ensuring consistent measurement across the market. Understanding these units is essential for accurately interpreting quoted prices and assessing the metal’s worth.

Key Drivers of Rhodium’s Price

The price of rhodium is shaped by supply and demand, exacerbated by its rarity and production challenges. Rhodium is one of the rarest elements, estimated to be around 150 times rarer than gold. This scarcity contributes to its high value.

Rhodium is not mined as a primary product. It is extracted as a byproduct of platinum, palladium, and nickel mining. Its supply is inelastic; production cannot quickly increase in response to rising demand without increased mining of these other metals. Global annual production is remarkably low, typically around 30 metric tonnes.

Most rhodium supply, about 80%, originates from South Africa, with Russia contributing 10-12%. Disruptions in these key mining regions, such as geopolitical events, labor strikes, or infrastructure issues, can impact global supply and lead to price volatility. Declining ore grades in existing mines further constrain the available supply.

Demand for rhodium is driven by the automotive industry, accounting for 80-90% of its consumption. It is an important component in three-way catalytic converters, converting harmful nitrogen oxides into less noxious gases. Increasingly stringent global emissions standards necessitate higher rhodium loadings in catalytic converters, driving up demand.

While electric vehicles may eventually reduce demand for catalytic converters, the prevalence of traditional internal combustion engines ensures continued strong demand in the near to medium term. Smaller, yet important, industrial applications include its use as a catalyst in the chemical industry for producing nitric and acetic acids, as a plating for jewelry, and in the manufacturing of specialty glass.

How Rhodium is Traded and Valued

Rhodium is traded in industrial forms like sponge or powder, reflecting its use in manufacturing. For investment, it is also available as small ingots or bars. Unlike gold or silver, rhodium is not suitable for minting into coins due to its hardness and brittle nature, which makes stamping challenging.

Purity is an important factor in determining rhodium’s value, with the industry adhering to standards. ASTM B616-23 specifies refined rhodium in grades like 99.80%, 99.90%, and 99.95% pure. Purity verification uses analytical techniques like X-ray fluorescence (XRF) or inductively coupled plasma mass spectrometry (ICP-MS), which detect elemental composition.

The market for rhodium is specialized, with industrial buyers, refiners, and precious metals dealers as primary participants. It is not traded on major stock exchanges, and there is no established futures market, unlike more common precious metals. While some Exchange Traded Funds (ETFs) that track rhodium exist, direct physical acquisition usually involves specialized dealers.

Rhodium’s worth is based on its spot price, representing the raw metal’s value, with additional premiums for refining, fabrication into forms like bars, and dealer profit margins. The specialized nature of the market means that buying and selling physical rhodium can sometimes be more challenging than with more liquid metals such as gold or silver.