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Priced at $5.400 per ounce, the metal used in automotive catalytic converters is 1.000 times rarer than gold. South Africa and Russia account for 90% of global production.
O rhodium, the most expensive metal in the world, has accumulated a high of 15% in 2025 and it's worth it US$5.400 an ounce — 80% above gold. Essential for reducing pollutant gas emissions, it is a key player in the race for sustainable technologies. With reserves concentrated in South Africa and Siberia, its scarcity (0,000037 parts per million on Earth) explains the record appreciation.
Why is rhodium 1.000 times rarer than gold?
According to British Royal Society of Chemistry, rhodium exists in 0,000037 parts per million in the Earth's crust, compared to 0,0013 for gold. Extracted as a byproduct of nickel and copper refining, only 405 tons are exported annually by South Africa, the largest global producer.
Rhodium vs. gold price: price hits $6.000 and attracts investors
In March/2025, the metal reached US$6.000 an ounce (Trading Economics), pressured by demand for automotive catalysts. Compared to gold (average of US$ 3.000), rhodium's appreciation is driven by:
- Amid tensions with the US, China seeks European support against new tariffs
- Reports point to crisis in China: factory closures, wage protests and popular discontent amid trade war with the US
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- 90% reduction in NOx gases in vehicles;
- Applications in hypoallergenic jewelry and optical instruments;
- Lack of a futures market, with trading restricted to the Hong Kong Stock Exchange.
Present in 80% of global catalysts, rhodium converts carbon monoxide (CO) and nitrogen oxides (NOx) into less polluting gases. According to International Energy Agency, this technology avoided the emission of 200 million tons of CO2 in 2024.
Atomic number 45 and corrosion-defying strength
Discovered in 1803 by William Wollaston, rhodium (symbol Rh) he has:
- Atomic number 45 (45 protons/electrons);
- Atomic mass of 102,9 u;
- Corrosion resistance even at 600°C;
- Hardness greater than platinum, used in metal alloys.
Russia and South Africa: the giants behind 90% of the world's rhodium
Russia extracts the metal from a single deposit in Siberia, while South Africa accounts for 75% of global production. Geopolitics affects directly the market: sanctions on Russia in 2023 explained part of the rise in 30% in the period.
With the green transition, rhodium should maintain status as most valuable metal on the planet. Its application in low-carbon technologies and geological scarcity suggest new highs — and a challenge: how to secure supplies without predatory mining.
