Rhodium to Rise 35% on Cars, Mining Outlook, Standard Bank Says
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Rhodium will climb as much as 35 percent to $2,800 an ounce by the end of the year on increased carmaker demand and production difficulties for mining companies in South Africa, according to Standard Bank Plc.
The metal, mainly used in car pollution-control devices and in the chemical and glass industries, is mostly produced as a byproduct of South African platinum mining. Gains in the rand versus the dollar in the past year helped increase local costs for producers facing rising wages and higher fuel and electricity prices.