17 September 2026
Rhodium hits US$9,000/oz and China's export review
Key insights from this briefing
Why has rhodium been rising in 2026?
The briefing attributes the rally to tight prompt physical supply combined with demand from hybrid-vehicle autocatalysts and specialised aerospace uses. Regional US and European prices were also trading above the broader benchmark, indicating persistent physical-market premiums.
What is China's rare earth export review?
Beijing is due to review its paused rare earth export restrictions by 10 November 2026. The review will determine whether stricter licensing requirements affecting foreign products containing Chinese heavy rare earths are enforced or whether the suspension is extended into 2027, with direct implications for magnet supply chains outside China.
Excerpt from this briefing's Industry Insight
Rhodium extended its rally to around US$9,000/oz, up 9% month on month and 16% over the quarter, with US and European regional prices holding a premium above the benchmark. Tight prompt physical supply, hybrid-vehicle autocatalyst loadings and aerospace coating demand are driving the move. The briefing also looked at the four strongest CMP price gainers over the past 12 months, ytterbium, samarium, tungsten and lithium, which serve different primary markets but converge in space, defence and laser manufacturing. China's review of its paused rare earth export restrictions, due by 10 November, is the key policy date to watch.