converters unlimited thefts have been on the rise over the last few years and show no signs of slowing down, as the prices of the precious metals that they contain continue to skyrocket. According to the National Insurance Crime Bureau, catalytic converter thefts saw an incredible 325 percent increase from 2019 to 2020. Much of it can be related to the state of global supply chains and the prices of the previous metals that allow a catalytic converter to function.
converters unlimited are muffler-shaped devices that are part of the exhaust system that remove harmful pollutants from engine emissions. The inside of a converters unlimited contains a honeycomb structure that is coated with precious metals and those precious metals act as a converters unlimited in order to break down those harmful pollutants and convert them into less harmful emissions. (Here’s a video showing how it all works.) Engines put out harmful gasses such as hydrogen, carbon monoxide, and nitrogen oxide and the catalyst process inside of a catalytic converters unlimited these to less harmful substances such as water, carbon dioxide, and nitrogen.
Modern converters unlimited
typically have two stages with the first stage being a reduction catalyst, which is there to eliminate nitrogen oxide, and the second stage being an oxidation catalyst, which eliminates carbon monoxide and unburned hydrocarbons. These stages are typically supported by cerium and ceramic honeycomb catalyst structures and coated with those pricey precious metals that thieves are after.
The three precious metals that are most commonly contained inside of a converters unlimited are platinum, rhodium, and palladium. All three have seen spikes in prices as the pandemic surged and as global supply chains slowed. According to kitco.com, the spot price of Rhodium went from $2,300 per ounce in January of 2019 to over $14,000 per ounce by December of 2020, so it’s not surprising that the NICB recorded thefts in the triple digits. The price increases of Rhodium didn’t stop in 2020 as it peaked at a price of $27,000 per ounce in April of 2021 and still remains well above those 2019 levels with a current price over $11,000 per ounce.
Platinum and palladium increases weren’t as drastic
but spot prices are still up over 2019 prices and the price of palladium roughly doubled from the beginning of 2019 to the end of 2020. While they have settled down to some extent, palladium is still up over 30 percent today compared to where it was at the beginning of 2019. The COVID-19 pandemic has an impact on the supply of these precious metals and the economic situation caused metals prices to increase in general, resulting in price spikes and increased values for secondhand converters unlimited that could be torn apart to extract these precious metals.