With Rhodium Prices Surging, Is Now the Time to Buy Rhodium Scrap?
People are buzzing about rhodium these days, for some very compelling reasons. One is that rhodium is trading at a very high price, currently $9,500 on the London Fix. Compare that to gold, which is trading for $1572 or even palladium, which is trading at $2181.
But even more important, the trading price of rhodium is surging. According to Bloomberg, the price of rhodium has increased 12-fold in the last four years, and also shot up 31% in January 2020 alone. That’s not a typo, it really increased by 31% in just one month.
That kind of surge in pricing is music to the ears of anyone who likes to invest in precious metals. And even though rhodium is among the scarcest of all precious metals, it is used in many applications. That means that finding rhodium scrap is not impossible at all. And if you find rhodium scrap and send it to Specialty Metals Smelters and Refiners to be processed, you and your wallet could be in for a very pleasant surprise. The way rhodium prices are headed, you might want to hold onto your scrap in the coming months and even years because prices seem to only be going up.
Where Is Rhodium Scrap Found?
In production equipment that is used to make fiberglass and glass fibers.
In LCD displays and CRT displays.
In advanced laboratory testing equipment.
In jet engines.
In sensors and thermocouples that are used in nuclear reactors.
As a plating that is applied to jewelry.
With rhodium trading for such high prices, even very small amounts can be worth a lot of money. How can you find out whether your scrap contains it? Simple answer, call Specialty Metals Smelters and Refiners at 800-426-2344, tell us what you have, and ask about having your scrap tested to determine whether it contains rhodium. Even if it doesn’t, it could still contain platinum, palladium and other valuable metals, so you stand to profit.
We are here to answer all your questions about profiting in precious metals. And let us say, we are as excited about rhodium as you are.
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