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The current Kitco Rhodium Pool bid price is $920.00 per ounce.

Here’s a look at how the rhodium price has behaved historically:

In the late 1980s, high rhodium prices spurred production in South Africa, the world’s largest rhodium producer. This increased production lowered prices during the 1990s. Interruptions in supply from the second largest rhodium producer, Russia, have since helped rhodium prices recover strongly.

Extremely bullish supply and demand fundamentals drove rhodium to record highs in 2008. In January 2008, a significant electric power shortfall in South Africa constrained rhodium supplies at a time when the market had already suffered four consecutive deficit years.
While the rhodium market balance had been in a deficit since 2004, reports of bullish buying helped drive rhodium values to historic heights. Based on Metals Week’s monthly averages, the rhodium price rose to a record $9,493.75 in June 2008. On a weekly average basis, prices ascended to $10,100 an ounce on June 19, 2008, as reported by Metals Week.

Rhodium prices, like those of platinum and palladium, fell sharply during the second half of 2008, falling below the $1,000 mark by the end of the year. As economic conditions worsened, a wave of selling across all commodities markets ensued. Rhodium prices have however recovered since that time.

Average prices per ounce in the United States (according to the US Geological Survey’s Mineral Commodity Summaries of January 2010) ranged from $530.28 in 2003 to $2,059.73 in 2005, hitting $6,533.57 three years later and settling back in 2009 to an estimated $1,468.

For further information on rhodium and its markets, please consult the following articles: