All You Need To Know About Scrap Catalytic Converter Prices
For those who are looking to sell their car, it will be a good idea to consider catalytic converter recycling to get some good money from selling over your scrap automobile. We all know that this device uses platinum group metals to generate the reaction necessary to render the fuel being burned by the engine less polluting for the environment. In a used catalytic converter, these precious metals can still be found in trace quantities and the seller can make good money from either extracting the same or selling the device over to a reseller for a good price. This article will help you understand everything you need to know about scrap catalytic converter prices.
What is the role of platinum group metals in catalytic converters?
For those who don’t know, catalytic converters work by creating a redox reaction, thereby turning the hydrocarbons and carbon monoxide in fuel exhaust into harmless carbon dioxide and water. This reaction is made possible with the use of platinum group metals like palladium, rhodium, platinum and the like. Palladium happens to be the most commonly used metal in this application. The technology behind the catalytic converter was invented by a French engineer named Eugene Houdry, who moved to the USA in 1930. He received his first patent for this technology in the 1950s. Trace amounts of leftover platinum and palladium happen to be the most valuable items that can be extracted from your scrap car.
What prices can you expect for catalytic converter scrap in the US?
The answer to the above question depends upon how and who you are willing to sell your scrap to. If you take the vehicle to a scrap yard, the prices will depend on what you will get for the entire car, rather than the scrap catalytic converter alone. You can also consider conducting an extracting process yourself but consider the repercussions of failing in the process and the loss that you will have to bear. The best way to go about things is to approach a buyer of these scrap devices who will give you a good deal for the residual metals they will be able to extract from the same. To get the best price, you’ll need to turn in the full unit. If it is missing any part of its core, then it may be paid at a rate that is 25–75% of the going rate. Catalytic converters that are completely hollow are paid at scrap steel rates. The catalytic converter price will then be based on the platinum, rhodium, and palladium trading prices that are available on that given day. These are considered to be precious metals, so the trading on them is more volatile than other scrap metals you’ll be able to find. You can expect to get roughly $900 per ounce for platinum while $800 per ounce for Rhodium and $600 per ounce for Palladium. The amount of metal extracted from your device will determine the final amount that you will make on the sale.
For more information of catalytic converter prices and where to sell catalytic converters, visit http://globalrefininggroup.com .
About The Author
Benjamin Harvey is a mechanical engineer specializing in automobiles, and is closely associated with working and researching on catalytic converters. He is of the opinion that globalrefininggroup.com is the best destination to sell catalytic converters.