Industry reports (Johnson Matthey, Heraeus) strongly imply that rhodium demand from the glass sector is back in structural “positive demand” territory measured in the tens of thousands of ounces; the market’s 8,600 ozt hurdle is therefore very conservative, and I’d lean heavily YES unless you have a very specific thesis that Chinese fibreglass/display producers resume aggressive rhodium liquidation in 2026.

How do we know how much of the demand was from the glass industry?

What is the resolution data source for this market? Is the referenced spreadsheet public?