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Rhodium price 2020

Rhodium price

Rhodium is the rarest and the most precious metal in the world. It has a silver-white appearance, and high resistance to corrosion because it does not react to oxygen.  Common characteristics of rhodium metals include high melting points, general non-toxicity,  resistance to wear and high reflectivity. British  William Hyde Wollaston discovered  Rhodiumin 1803. We can find rhodium in deposits of platinum from the mining and refining of platinum. Rhodium can occur naturally in river sands in North and South America and in copper-nickel sulfide ores in Ontario, Canada.  Rhodium salt has a characteristic rose-red color so the rhodium nomenclature comes from the Greek word “rhodon,” meaning rose.

The uses of Rhodium:

Rhodium price

Rhodium has great importance in catalytic converters designed to clean vehicle emissions. Rhodium is used with palladium or platinum.

It has a major uses a finish for, searchlights, jewelry, and mirrors.

Rhodium- platinum alloy has popular use in aircraft turbine engines and heart pacemakers

In the chemical industry, rhodium work as a catalyst in the preparation of nitric acid, acetic acid, and hydrogenation reactions.

In the electrical industry (RSC) it engages as an electrical contact due to its low electrical resistance and high resistance to corrosion.

Other applications for rhodium are coating optic fibers, crucibles, thermocouple elements, and headlight reflectors.

Health hazards of  rhodium :

While some compounds of rhodium are carcinogenic, there are almost no reported cases of humans being affected by this element in any way. since rhodium compounds are encountered so rarely. it is  approved to be the least toxic member of the platinum group of metals

Rhodium price:

Rhodium — prices are very volatile. For example, rhodium briefly reached $10,025 an ounce just before the 2008 economic crisis hit, but then jumped by 90 percent before the end of the year.

average of Rhodium price is  $4,200 an ounce. Economics expects more increase in prices due to increasing demand and the reduction in supply.

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