Desperate to cut emissions, auto makers drive rhodium to 11-year high 5:52am EDT [Reuters]
IMPALA PLATINUM HLDGS ADR (IMPUY)
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Source: Reuters
Desperate to cut emissions, auto makers drive rhodium to 11-year high - Reuters 5 Min Read LONDON (Reuters) - The price of rhodium, a precious metal used to curb harmful emissions from vehicle engines, has rocketed to its highest since 2008 as tightening environmental regulation compels auto makers to buy more just as supply looks set to stagnate. Rhodium has leaped from $615 an ounce in mid-2016 to $3,565 an ounce this month, shooting up by more than $1,000 since mid-February alone. “Within this year we might well see $4,000,” said Mitsubishi analyst Jonathan Butler, adding that rising demand would likely tip the market into deficit. “That’s not to say we wouldn’t see a pullback potentially to $3,000 — this is a volatile metal — but it does have good long-term prospects,” he said. (For a graphic on 'Rhodium price' click tmsnrt.rs/32wlqu1 ) Rhodium is used alongside its sister metals platinum and palladium in vehicle exhaust systems to neutralize pollutants. But its price has raced ah
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