Supply

摘要

Newly refined rhodium supply rose to 923,000 ounces in 2013, up 3.2% from the previous year. Most of the increase comes from a rise in mine supply. Mine supply rose to 733,000 ounces, up 2.2% from the previous year. A rise in South African output last year from the trough of 2012 accounted for the bulk of this increase in global mine supplies. Secondary supply rose more strongly, due to increased recovery of rhodium from available spent auto catalyst. Secondary supply increased to 190,000 ounces last year, up 7.0% from the previous year.Rhodium supply is projected to decline 8.0% to 849,000 ounces in 2014. South African mine supply is expected decline sharply again due to prolonged supply disruptions. Russian supply is expected to increase modestly from last year.