A mixture of EU legislation and high prices for platinum are helping to increase the number of catalytic converters recycled, according to a platinum specialist.
Platinum prices keep on increasing worldwide and show no signs of slowing down this year. 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.
Johnson Mattheys [specialist chemical company] programme manager David Jollie produced a review of the platinum markets and said catalytic converters are an important source of recovery.
A higher proportion of catalytic converters are becoming recycled and this is driven by the high value and legislation like the End-of-Life Vehicles Directive, which says you have to recycle a certain amount of a scrapped car by weight.
Metal prices have been high for the last few years now.
Previous stories, Call to boost platinum recycling from cars(27/03/08)