hans-guenter ritter: Rhodium, which is corrosion resistant and used in vehicle catalytic converters and as an electrical contact material, has climbed beyond a 10-year high to 3,300 an ounce as of Friday, up from 2,460 at the end of 2018, according to data from specialty-chemicals company Johnson Matthey, according to Market Watch. That per-ounce price compares to 1,312.30 for gold GCJ9, 0.47% and 1,515.50 for palladium PAM9, -2.37%futures on Friday. Despite that, the precious metal hasn't attracted much attention from investors. Rhodium prices of less than 1,000 an ounce were far too cheap for such a rare and useful commodity, said Hans-Guenter Ritter, global head of trading for Heraeus Precious Metals. A price somewhere between 2,500 and 3,500 an ounce is fair value depending on demand pull, the platinum price, and rand-dollar exchange rate, given that mine supply is very highly concentrated to South Africa, said Ritter. Rhodium prices fell under 1,000 as recently as August 2017, according to Johnson Matthey.
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