The latest report titled “Rhodium Production Cost” by Procurement Resource, a global procurement research and consulting firm, provides an in-depth cost analysis of the production process of the Rhodium.
Procurement Resource study is based on the latest prices and other economic data available. It also offers additional analysis of the report with detailed breakdown of all cost components (capital investment details, production cost details, economics for another plant location, dynamic cost model). In addition, the report incorporates the manufacturing process with detailed process and material flow, capital investment, operating costs along with financial expenses and depreciation charges.
Procurement Resource’s detailed report describes the stepwise consumption of material and utilities along with a detailed process flow diagram. Furthermore, the study assesses the latest developments within the industry that might influence Rhodium production cost, looking into capacity expansions, plant turnarounds, mergers, acquisitions, and investments.
Procurement Resource Assessment of Rhodium Production Process:
1. Rhodium Production Cost From Extraction of the Rhodium Metal from the PGM Ore: This report provides a detailed analysis of Rhodium metal extraction from the PGM Ore. Rhodium is derived as a by-product of the platinum group of metals (PGM) refining. The production begins with the precipitation of the metal from the ore. The remaining residue gets treated with sodium bisulfate and then melted, which forms rhodium sulfate. The produced Rhodium sulphate is later treated with sodium hydroxide creating rhodium hydroxide. By adding hydrochloric acid to rhodium hydroxide, a purified acid solution of rhodium(H3RhCl6) is formed. In this solution, Sodium nitrite and ammonium chloride are added, leading to its precipitation. Finally, purified rhodium metal is formed when the rhodium precipitate gets dissolved and heated in hydrochloric acid, which is followed by burning that removes all impurities.
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Product Definition:
Rhodium (Rh) is one of the six PGMs (platinum group metals), which is known to be the most rare and valuable precious metal in the world. The metal is a transition metallic element with a silvery-white appearance. It is resistant to corrosion, hard and durable and is highly reflective. It is an unreactive element with the atomic number 45. It has a higher melting point and a lower density compared to platinum. It remains unaffected by water or air up to 600 C.
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Market Drivers:
Rhodium is primarily used in the automobile sector as a catalytic converter, where it is used for reducing the amount of nitrogen oxide (NOx) gases that are released into the air, which propels the industry. It is used in many industries like jewellery, chemical and electrical trades. Usually, it is mixed with platinum and iridium as an alloy that is used to make products like high-temperature thermocouples, resistance wires, bearings, pen nibs, phonograph needles, furnace windings, electrodes for aircraft spark plugs, and electrical contacts, which furthers the market's expansion. Also, it is employed for plating jewellery, searchlight reflectors etc., owing to its tarnish-resistant properties. In several end-user industries, it is also used as a catalyst, like in the BP-Monsanto process, which boosts market growth.
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