If you want to get rhodium prices from Kitcho you are in the place to find it. In this post, we explain the best way to get it.
Rhodium is a platinum family metal that has a silvery-white appearance and is very hard and corrosion resistant. Rhodium mines do not exist because they are a byproduct of platinum or nickel mining.
It is considered a rare metal, but it does not fall into the “rare earth” category, which includes 17 metals that are primarily mined in China (95%). This metal is required for many technological products.
It is one of the metals involved in the automotive industry’s transformation. It is primarily used in the production of catalysts because it allows for the reduction of polluting gasses, particularly nitrogen oxide. Rhodium is also used in the chemical industry and the production of jewelry such as necklaces and bracelets.
South Africa extracted between 80% and 85% of global production. In the last three years, total production has increased to around 26 tons per year. In addition, between 10 and 13 tons of recycled rhodium will be used. One of the main reasons for the high cost is its scarcity and reliance on supply from an extraction zone. Rhodium prices have skyrocketed.
Rhodium catalysts are used in a variety of industrial processes, the most prominent of which is the catalytic carbonylation of methanol to produce acetic acid. It is also used to catalyze the addition of hydrosilanes to double-bonded molecules, which is a critical step in the production of certain silicone rubbers. Rhodium catalysts are also used in the conversion of benzene to cyclohexane.
Use An API
As you can see, this metal favors many strategic industries. It is also scarce and is the most expensive in the world. For this very reason, many people invest in it both for its use in manufacturing and by using it as an asset. In this way, the metal is consolidated as a great material for investment. In this sense, if you want to invest in this metal, you must be aware of the prices every day.
For this, you should use an API that updates prices daily. However, not all of them work the same way or have information from reputable sources. For this reason, you should use one that comes with data from Kitco, which is one of the largest information centers for current and historical metal prices.
Here, our proposal to get Rhodium prices will be Metals-API. It uses information from the most reliable financial centers with which the data that will be included in your application or page will be accurate.
About Metals-API
Metals-API has a large number of documents that you can easily incorporate into your digital content. In this way, you will be updating the prices every day and you can compare them with past rates to understand the behavior of the market. In this sense, you can also contrast various metals in various international currencies. Moreover, to sourcing from trusted sources like Kitco, they also use LBMA API rates.