UPDATE 1-Rhodium firm, heads towards 1980 peak of $7,000

Newswire

(Updates price in 4th para) By Martin Hayes LONDON, May 19 (Reuters) - Rhodium jumped to a 26-year high on Friday due to supply tightness, and prices looked set to exceed 1980's all-time record of $7,000 an ounce soon. Traders said an already tight market for rhodium, used in the manufacture of autocatalysts and in glass-making, was being squeezed further by speculators buying a metal that has jumped 105 percent this year. "Definitely it will hit that historic high soon. How high can ...

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