Rhodium price per gram and troy ounce

Rhodium is one of the rarest metals in the world. It has a wide range of uses and is essential to many industries.

Rhodium price per troy ounce and gram

Rhodium price chart

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Price change

Historical prices

What is rhodium and how is it used?

Rhodium is a metallic element belonging to the platinum group metals. It is extremely rare, occurs mainly in platinum ores and is relatively difficult and costly to obtain in pure form. Rhodium is highly resistant to corrosion, making it an ideal material for manufacturing catalytic converters, electrodes and other equipment that may be exposed to extreme conditions. Rhodium is also used in jewellery, where it is applied as a surface coating to gold and silver jewellery to improve its durability and shine.

Rhodium is used in electronics, healthcare and glass production. By far the greatest demand for rhodium, however, comes from the automotive industry. Manufacturers need this metal to produce catalytic converters for cars and lorries.

Where rhodium is traded and how its price is set

Before looking at the figures, we need to mention one important point. Unlike gold or copper, rhodium is not traded on a conventional exchange. Its price is determined by dealer quotations published by major precious metal processors, particularly Umicore and Johnson Matthey. Prices may therefore differ between sources, and there is no single official exchange price. All prices in this article are quoted in US dollars (USD) per ounce.

Global rhodium production

Global rhodium production is estimated at only around 20 tonnes per year, equivalent to approximately 670,000 ounces. The largest producers of the metal are South Africa, Russia and Zimbabwe. These countries account for more than 80% of global rhodium production. South Africa is the world’s largest producer, and its reserves significantly exceed those of other countries.

Historical rhodium price movements

The price of rhodium has been highly volatile over the years.

Strong demand for this rare metal has caused several price shocks in the past. In 2008, for example, the price of rhodium rose to an astonishing $10,000. This increase was driven by high demand for rhodium in the automotive industry. Demand for cars among households and businesses had risen every year until the global financial crisis struck in 2008.

This was followed by a sharp fall to around $800. During the decade from 2009 to 2019, the price of rhodium fluctuated between $1,000 and $2,000 per ounce. Rhodium experienced another surge around the pandemic year of 2020. The first price peak occurred in February 2020 at approximately $13,000. However, rhodium did not reach its all-time high until 2021, when it climbed to approximately $29,800 per ounce.

The price has fallen since that record. It stood at around $20,000 at the beginning of 2022, but a steeper decline then followed. In 2023 and 2024, rhodium traded at only around $4,000 to $4,500 due to the downturn in the automotive market. A recovery followed in 2025 and 2026, with the price returning to around $8,000. When this article was updated in July 2026, Umicore quoted the rhodium price at approximately $8,200 per ounce.

Future outlook for the rhodium price

Rhodium remains closely tied to the automotive industry. Catalytic converters for vehicles with internal combustion engines account for approximately 80% of total demand. Paradoxically, the slower adoption of electric vehicles therefore benefits rhodium, as more vehicles with internal combustion engines remain in use than previously expected.

On the supply side, declining production in South Africa is being offset by increased recycling of the metal from scrapped catalytic converters. If the surge of 2021 were repeated and the rhodium price exceeded its previous high, this would represent a severalfold increase from today’s price. However, this depends on many factors, and such a development cannot be predicted with certainty.

How to trade rhodium

As with most platinum group metals, buying and potentially reselling physical rhodium is not a particularly practical way to invest. Investors can instead use derivatives such as futures or CFDs. These products allow investors to speculate on either a rise or fall in the rhodium price without having to hold the physical metal.

You can also trade shares in companies involved in mining precious metals, including rhodium. Another option is to purchase ETF units through exchange-traded funds. These funds provide indirect exposure to precious metals such as gold, palladium and rhodium.

What affects the price of rhodium

The price of rhodium is primarily influenced by industrial demand. Companies in the automotive, electronics and healthcare industries are frequent buyers. Other factors affecting the price of this metal include market supply, geopolitical events and the performance of the global economy.