Platinum and Palladium

[shinnosuke]

These two metals have been way below for gold for a while, but now platinum is trying to overtake the palladium price.

Are we assembling so many electric cars now that there are significantly fewer catalytic converters (which use palladium) being made?

[Lemon Thrower]

Years ago, catalytic converters were made with platinum because it was more efficient chemically. At the time, plat was more expensive than gold, but only slightly.

As demand for platinum increased, manufacturers switched to palladium because it was maybe a quarter of the cost. Over time, palladium became more expensive than platinum.

Not sure what is going on now. Demand for all durable goods is slowing. I also think demand for electric cars has peaked - everybody who wants one has one already. Hertz lost their shirt on EVs and can't give them away. People are broke and can't afford a new car unless they can finance it.

[pmbug]

From a month ago:

https://www.kitco.com/news/article/2024 ... metals-are

[shinnosuke]

Thanks, guys. I think my new purchases will remain centered on Ag. I don’t want the hassle of trying to buy beans and rice with a white metal that is not silver.

[68Camaro]

Thanks, guys. I think my new purchases will remain centered on Ag. I don’t want the hassle of trying to buy beans and rice with a white metal that is not silver.

No argument there. I have small amounts of both major PGMs that I intend to keep, and I don't plan on adding to either unless prices drop to stupid levels (which I don't see happening). Even when big price drops have happened in the past there has been very little metal available to buy.

I fully agree that once your basic self reliance needs are met, your focus should be silver then gold.

[Treetop]

I dont know if my new ford maverick hybrid uses either of these two metals but I love this thing. I driven lots of small trucks over the years but nothing like this. I mean obviously the gas mileage..... which I usually keep around 39 to 42 but it actually performs better when I get up to speed fast, Its fun af to drive. lol maybe irrelevant to this post I dont even know what metals it uses. Sorry if irrelevant. lol one of my only possessions I ever loved though so I brought it up.

[shinnosuke]

Thanks, Treetop. I learned something trying to find which metal Ford uses...

"Catalytic converters are stolen for two reasons: money and ease of stealing. They are made with the precious metals platinum, palladium and rhodium, which skyrocketed in value due to supply chain issues during the COVD-19 pandemic. The average catalytic converter contains about 1-2 grams of rhodium, about 3-7 grams of platinum, and between 2 and 7 grams of palladium. While the market value of these metals has decreased, they still can fetch a pretty penny. Rhodium is averaging $135 a gram and palladium is selling for about $38 a gram." (as of 16Oct2024) https://www.edmunds.com/auto-insurance/ ... theft.html

I didn't know that catalytic converters used rhodium, too!

"How much platinum is in a catalytic converter?

"Each year, about 90 tonnes of platinum, 300 tonnes of palladium and 30 tonnes of rhodium are used globally for catalytic converters – both diesel and gasoline. But, 30 -50% of this comes from recycling. Johnson Matthey is committed to sustainability, and both makes emission control catalysts, and recycles catalytic converters and other pgm waste to extract and re-use the precious metals in them. Each year, we refine enough pgms to make millions of catalytic converters." https://matthey.com/science-and-innovat ... -converter