The catalyst for car converters to be targeted by thieves, turns out to be expensive – The theft of catalytic converters in automobiles has become increasingly common in North America.

Not without reason, thieves seem to have their eyes on the platinum, palladium and rhodium in the catalytic converter.

Launch Carscoops, Friday (5/3/2021), the rampant theft of catalytic converters cannot be separated from the higher price of the material.

According to MoneyX, platinum sells for US $ 1,168 or around Rp. 167,000 per ounce, while palladium US $ 2,361 or equivalent to Rp. 340 thousand, and rhodium for US $ 28,500 or around Rp. 410 thousand.

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In comparison, gold alone is only priced at US $ 1,717 or equivalent to Rp. 246 thousand per ounce.

According to CBC News CanadaThe increase in platinum, palladium and rhodium prices could be attributed to stricter emission standards because more materials are needed to make vehicles cleaner. As a result, the stolen catalytic converter is ‘worth gold’.

Car exhaust illustration. [Shutterstock]
Car exhaust illustration. [Shutterstock]

Apparently, the thieves had noticed when the national director of investigative services at the Canadian Insurance Bureau announced that, “The catalytic converter has been stolen for years.”

However, the difference lately is the price of the precious metal, and it is clear that the precious metal in the catalytic converter is what thieves are looking for to sell on the black market.

Given that catalytic converters are now more profitable to steal, theft of these components is very worrying.

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In fact, it has more than quadrupled in some places. Theft also does not recognize the place, sometimes it occurs in workshops, public parking lots, or when the car is parked at home.