Selling Your Converters as You Buy to Benefit from Current Market Trends

Selling Your Converters as You Buy

Recycled catalytic converters are valuable because of the precious metals they contain. Platinum, palladium, and rhodium are commodities traded on the market and like every other commodities, their prices depend on supply and demand. But the years of market stability are gone.

For the dreamers and the believers, it’s hard to get used to the volatile market trends of today. We can look back fondly on the good days before 2020, when rhodium was trending upwards and new models were bought right off the lot, but the truth is, a new reality has set in.

What Is Happening in the Metal Market Today?

The market for platinum, palladium, and rhodium is currently very volatile. From this volatility, one thing is clear: the market is changing faster than ever. No one can predict if this volatility is going to be followed by a period of greater stability.

Because of recent Russian disruptions and the increased substitution of palladium and rhodium in the automotive sector, 2022 was a year of epic highs and epic lows for the PGM market. And most importantly, 2022 saw a historic decline of end-of-life vehicles entering the scrap yard thanks to high car prices. With this in mind, let’s look at how quickly the metal market can change.


In the new market, rhodium has shifted from highs of $15,000 to lows of under $6,000 – all within a year. That’s because there was a surplus of rhodium last year, and as a result, non-automotive demand dropped by 43%.

For this and other reasons, the price of rhodium has been trending downwards since October 2022.


Platinum prices are more volatile than ever, ranging from highs of $1,100 to lows of $836 in 2022. Beginning 2023 at a high of $1,090, platinum quickly fell to $900 by February.

With increased supply risks, platinum climbed and fell throughout the year, leaving market observers unable to predict platinum’s next move.


The price for this metal started 2022 at a record high of almost $3,000 in February and fell to a low of $1,600 in late December. While in 2023, palladium opened at $1,700 and rose to a high of $1,500.

With a shortage of palladium last year, prices were particularly volatile in the first half of 2022. As palladium deliveries were increasingly disrupted by geopolitical conflicts, the price of palladium saw even more fluctuation than expected in today’s already volatile market.

But what does all this information tell us? This year’s low demand and increased supply of platinum, palladium, and rhodium has caused market prices to fluctuate more than ever. This is why you should be selling your catalyst material as you buy. Play the market—don’t let it play you.

With the knowledge that you should be selling your material as you buy, the logical question is how to effectively price, ship, and get paid for your converters without letting good opportunities slip away?

Having the Right Processing Partner

When you partner with a processor who’s in it for the long haul, you get an ally that helps you succeed, even when times are tough. At PMR, we believe in empowering recyclers with comprehensive buying tools, the right information, and personalized assistance to help you realize your full potential.

When you have the right tools for your business, you benefit from the market, instead of being at its mercy.

Buying Tools

It’s important to use comprehensive buying tools. This way, you can price converters confidently and in a way that ensures you’re making a good profit. This makes it easier to collect material and ship it as quickly as possible. You’ll be able to hedge your metal ounces that much quicker and make sure that you’re benefiting from current market trends.

PMR offers extensive buying tools like photo grading, VIN/TRIM, master catalog, and a price list. These tools update as the market changes, giving you live prices. This helps our suppliers price converters remain competitive, even in today’s market.


With the right information, you can optimize your business in no time. Having crucial data like assay and grading reports is an effective way to develop a better understanding of your material and your profits.

At PMR, we believe in providing detailed assay sheets that give you all the information you need to understand your material and improve your operations. For suppliers with larger volumes, our converter experts offer quarterly business reviews to help them understand their material, their profits, and optimize their operations for the next quarter.

Personalized Assistance

With all this volatility, it’s important to get the right advice that will help you identify your unique needs and make the most informed decisions for your business. At PMR, our team of representatives offers tailor-made solutions for all our suppliers’ unique challenges and stays by their side once they’ve overcome them.

Having the right processing partner—one that offers all these tools—will help you stay one step ahead and benefit from a volatile market.

Stop the Nostalgia

Selling as you buy your material is critical in today’s market. Stop sitting on years’ worth of material, hoping the market will change. Get the right tools, partner, and knowledge to benefit from today’s market trends and keep growing your business.

PMR wants to help you succeed, even when the market is extremely volatile. We’re committed partners and we care about your converter successes. That’s why we empower you with comprehensive buying tools and expert knowledge. PMR should be your trusted partner to weather any storm in this volatile market climate.

For more information, visit PMR’s Resource Center or contact a PMR Representative.

Published: June 14, 2023
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