PGM’s Oh My! Palladium at 30 year high! Got Catalytic Converters?
If you haven’t already heard the news. Scrap Catalytic Converters are on the rise. Some of you old timers might remember the rise that lead to the crash of 08-09. It appears today, that Rhodium and Palladium are doing quite well. As of this posting (2/11/2019) Palladium is currently at 1385 USD / Troy Oz dipping slighty off a record high of 1400 USD just last month. Rhodium is currently happily hovering around 2500 USD / Toy Oz. No where near its record high of 10,000 USD in ’08.
So what does this all mean? The price of complete vehicles should also stay steady or increase slightly. There is a good chance you might also notice more people actively trying to buy converters online and in your local area. As the street level price starts to rise we might also see more converter theft and associated crime. If you know of anyone actively stealing converters please convince them to stop or inform the police. The few bad apples give everyone in the metal recycling industry a bad name.
Graphic Source: InfoMine Inc.