Precious Metals Are Falling for Catalytic Converters
Posted: March 17, 2020
We hope that everyone is doing well and staying as aware of your surroundings and hygiene as much as possible during this hectic time. We want to update you on how Catalytic Converter Prices are being affected during the COVID-19 crisis.
Precious metals are used for the auto industry, specifically in regards to Catalytic Converters: Platinum(Pt), Palladium(Pd) & Rhodium(Rh).
Precious Metal Prices Since March 1st, 2020
Platinum (Pt) is down 30%*
Palladium (Pd) is down 57%*
Rhodium (Rh) is down 60%*
*As of 3/17/20
With everything in the market taking place at this time, there are a few things to think about when you are going to be recycling your catalytic converters or keeping track of the market conditions.
- New car sales are going to dip during the crisis, steel prices will fall due to oil prices
- With these factors, fewer cars will be scrapped causing old car scrap to fall as well.
- With so much fear going on right now it will be tough to see the prices rebounding that quickly.
With that being said things are still being made across the globe, things are still being sold, and people are still working and moving forward.
In the meantime, we look forward to the opportunity to quote you on your catalytic converters and answer any questions that you may have about catalytic converter pricing or how to prepare and ship your material.