Platinum group metals
Six rare metals, including platinum, palladium and rhodium, used in catalytic converters.
The platinum group metals (PGMs) are six chemically similar precious metals: iridium, osmium, palladium, platinum, rhodium and ruthenium. In cars, platinum, palladium and rhodium coat the inside of catalytic converters.
Because only small amounts are used and their prices are high and volatile, converter values swing with PGM markets. That is why a converter’s recycling value can’t be stated reliably without knowing the exact unit and current prices.
The U.S. Geological Survey describes the catalytic properties of the six PGMs as outstanding and says the automotive industry has been their principal consumer since 1979.1
References
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U.S. Geological Survey, “Platinum-Group Metals Statistics and Information”, https://www.usgs.gov/centers/national-minerals-information-center/platinum-group-metals-statistics-and-information ↩