Market Wrap - Stock Pick — Rhodium
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Andile Buthelezi from Sentio Capital chose Rhodium as his stock pick of the day.
"I have an interesting one I think, my stock pick is Rhodium which is a platinum group metals that a lot of our Platinum mining companies in South Africa produce. It is mainly used in a catalytic converter that you find in vehicles and the idea with it is that it helps to reduce emission levels that come out of a car, the reason I'm choosing it today is because demand for this particular metal is rising in an environment where there's new legislation being introduced that requires these vehicle manufacturers to reduce emission levels even more than they currently are. So there's an increasing demand for this metal and a commensurate supply, it just isn't there."
"I have an interesting one I think, my stock pick is Rhodium which is a platinum group metals that a lot of our Platinum mining companies in South Africa produce. It is mainly used in a catalytic converter that you find in vehicles and the idea with it is that it helps to reduce emission levels that come out of a car, the reason I'm choosing it today is because demand for this particular metal is rising in an environment where there's new legislation being introduced that requires these vehicle manufacturers to reduce emission levels even more than they currently are. So there's an increasing demand for this metal and a commensurate supply, it just isn't there."
