Get the best catalytic converter platinum scrap price
Finding the value of your scrap catalytic converter is quite challenging, especially that there are various metals that you can find in one converter. However, there are ways to know Catalytic Converter Price– by considering certain factors such a car brands, the metals found in the converter, weight, and reference. Let’s start with the metals found in the Catalytic converter:
Types of Metals found in Catalytic Converter
There are three main metals found inside a catalytic converter, but there are also other materials. They will play a vital part in computing the price of a converter, so be keen about the details.
The first metal that you can find inside a converter is platinum which allows the engine to function well. Its role is to negate the pollution to avoid letting in harmful particles inside the engine. However, it’s not just vital to help the engine but also one of the valuable metals known for its purity and catalytic properties.
The price of the platinum metal varies, but there are websites that can give you accurate pricing. However, the average price, according to Business Insider, is $1097 per troy ounce.
Palladium is also one of the six PGM or Platinum Group Metals that is probably the most expensive. It’s known for its features of being soft and pliable. In the market, its price is $2,643 per troy ounce, which is the reason why it’s a luxury item for catalyst converters.
Another metal in the PGM family is rhodium, which eliminates the fumes and toxins of a car’s engine. And as a catalyst, rhodium is also a great item because of its beneficial chemical compounds. You can find rhodium in the market with an average price of $2175 per ounce.
The pricing mentioned for each catalyst metal is the average price in the market. Therefore, they are subjected to change depending on certain factors. If you want to get the accurate cost of each metal, you can visit trusted platforms such as Fastmarkets, Kitco, and MetalsDaily.
How to Calculate the Value of a Catalytic Converter?
After knowing the value of each metal present inside a catalytic converter, you also need to answer the following questions:
- What is the brand of the car?
- What is the reference of the catalytic converter?
- What is the weight of the catalytic converter without the shell?
- What are the details about the metals (PT, PD, RH) found in the converter?
Once you know the answers to those questions, finding the real value of your catalytic converter will be easier. There is an equation that you can follow to get the PPM or known as parts per million.
The first step is to translate the PPMs into ounces or grams of the given metals. For example, if you’ve found PD and RH in the converter, you have to convert their PPMs into grams.
Then, you have to multiply the price of each metal by each of its grams to find the total value of each metal that your converter has. For example, if your PD is converted to 1.5 grams, you have to multiply it to its average price of $2643 and do it to other metals.
Once you get the total value of each metal (PD and RH), you can now add them to get the overall value of your Catalytic converter.
If you found this interesting, please check our more blog post on “the Price of scrap catalytic converters.”