Buying Surge Ups Rhodium Prices
By Purchasing Staff -- Purchasing, 4/30/2009 2:00:00 AM
With automotive catalyst makers on a buying binge, rhodium, the platinum group metal used as a key raw material, increased somewhat to $1,065/troy ounce in mid-April from a cyclically low average of $992 in December. Prices last peaked at $9,707 last June so current prices "still are at bargain basement levels, reflecting the short-term dire economic outlook," says Ross Norman, managing director of TheBullionDesk.com.
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