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Platinum is an extremely rare metal, [26] occurring at a concentration of only 0.005 ppm in Earth's crust. [27] [28] Sometimes mistaken for silver, platinum is often found chemically uncombined as native platinum and as alloy with the other platinum-group metals and iron mostly.
Rising metal prices in the U.S. during the 2000s commodities boom led to a significant increase in converter theft. A catalytic converter can cost more than $1,000 to replace, more if the vehicle is damaged during the theft. [52] [53] [54] Apart from damaging other systems of the vehicle, theft can also cause death and injury to thieves. [55]
A long-term supply deficit has led prices of the metal, used mainly in catalytic converters to curb harmful emissions, to double over the last year. In the futures market, prices indicate buyers ...
Catalytic-converter-equipped vehicles have helped cut other air pollutants by more than 3 billion tons worldwide between 1975 and 2000; of this 1.5 billion short tons was in the United States. Automobiles meet emission standards that required reductions of up to 98+ percent for HC, 96 percent for CO, and 95 percent for NOx compared to the ...
[11] [14] The codes on catalytic converters identify the make, model and place of origin of catalytic converters, which in turn identify their value, due to variation in state emission laws. [ 11 ] [ 18 ] As an example, GD3 EA6 denotes a Toyota Prius manufactured between 2004 and 2009; [ 11 ] [ 14 ] at the peak of the PRP metal prices, its high ...
All the noble metals can act as catalysts. For example, platinum is used in catalytic converters, devices which convert toxic gases produced in car engines, such as the oxides of nitrogen, into non-polluting substances. [citation needed] Gold has many industrial applications; it is used as a catalyst in hydrogenation and the water gas shift ...