The Governments car scrappage scheme will be a positive measure for auto catalyst recycling, according to Johnson Matthey, the precious metals refiner.
A catalytic converter is a device used to reduce the toxicity of emissions from an internal combustion engine. Catalytic converters have only been fitted into new petrol engines in the last 15 years so the business of their recovery is still developing. The device is made up of many materials but the prime material is platinum.
When a car is scrapped catalytic converters can be cut off with some of the exhaust pipe to be sold onto a reprocessor and recycled. Platinum is measured by weight.
Johnson Matthey publications manager David Jollie told MRW: The scrappage scheme will have an impact and will help to push second hand cars through the recycling process. This will have a positive impact for the autocatalyst recycling.
He said that the UK will benefit because it will be recycling cars at home rather than abroad.
He added that platinum is traditionally used in diesel cars but newer vehicles were using palladium for their catalytic converters.
Johnson Matthey published its annual report which said that demand for platinum decreased by 5 per cent last year because of weak car demand and industrial demand. It predicts that automotive demand will remain weak for this year but should start to recover slightly in advance of car production.