💎Rodium is one of the rarest elements in the Earth's crust, making it highly valuable.
🌈The 'Rodium Rainbow' experiment demonstrates the colorful properties of rhodium compounds.
💰The price of rhodium has soared in recent years, reaching a peak of $934 per gram in April 2021.
🚘Rodium is primarily used in catalytic converters in vehicles, accounting for 85% of its demand.
📈The future demand for rhodium may decrease due to new EU regulations on diesel vehicles.
Why is rhodium so expensive?
—Rhodium is one of the rarest elements, and its high price is driven by limited supply and high demand in the automotive industry.
What is the 'Rodium Rainbow' experiment?
—The 'Rodium Rainbow' experiment involves dissolving rhodium metal in sulfuric acid, resulting in the formation of colorful rhodium compounds.
Why did the price of rhodium spike in recent years?
—The price of rhodium experienced a significant increase due to limited supply from South African mines and high demand for catalytic converters in vehicles.
What are the main uses of rhodium?
—Rhodium is primarily used in catalytic converters, but it is also used in jewelry, electronics, and some chemical applications.
Will the demand for rhodium decrease in the future?
—The future demand for rhodium may decrease due to new EU regulations on diesel vehicles, which could impact the need for catalytic converters.
00:00Introduction to rhodium and its high price.
01:20Exploration of the 'Rodium Rainbow' experiment that showcases the colorful properties of rhodium compounds.
02:09Discussion on the soaring price of rhodium in recent years.
03:41Explanation of rhodium's primary use in catalytic converters in vehicles.
05:40Insight into the potential impact of new EU regulations on the future demand for rhodium.
