I'm curious why these six commodities, metal products, have fast rising prices. Data as of today, around 3:30pm Manila time.
Why the price spikes? I checked some reports.
Now check the huge spike in prices of rhodium. Why?
This explanation from
There is no rhodium mines strictly speaking. It’s simply a by-product from the extraction of PGMs mines (platinum, palladium, rhodium, osmium, ruthenium and iridium).
Its annual production is extremely limited. About 25 tons per year (against 2350 tons of gold). Less than 10 mines worldwide extract significantly this metal.
Rhodium main application in the automotive industry (80-90%). Used in the manufacture of catalytic converters (associated with Platinum and Palladium), it reduces the toxicity of gases from exhaust pipes. It is also used in jewelry as a finishing material.
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JANUARY 13, 2021 11:27