South Africa holds the world’s largest reserves of rhodium and accounts for approximately 80% of global supply. The rare platinum-group metal continues to rank as the most expensive precious metal on the market.
As of mid-September 2026, rhodium trades at around $9,050–$9,550 per ounce. This significantly exceeds the price of gold, which currently stands near $4,330 per ounce.
Rhodium remains a critical global commodity, driven primarily by its essential role in automotive catalytic converters, where it helps reduce harmful nitrogen oxide emissions. It is also used in various industrial manufacturing processes due to its exceptional resistance to corrosion and high temperatures.
Because the vast majority of the world’s rhodium comes from South Africa’s Bushveld Complex as a by-product of platinum and palladium mining, supply remains highly concentrated. This concentration, combined with steady industrial demand, continues to support its elevated market value.
