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A precious metal that costs 15 times more than gold is driving a surge in thefts of catalytic converters


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A precious metal that costs 15 times more than gold is driving a surge in thefts of catalytic converters
Lesley Wroughton and Max Bearak, The Washington Post
March 4, 2021
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In just the past week, Andrew Reichenbach s car repair shop in Minneapolis has had three Mitsubishis come in with their exhaust pipes sawed off. The thieves were after a precious metal - tucked into almost all American vehicles - in such demand that it costs 15 times the price of gold.
We ve had 60 or 70 in just our shop alone if that gives you a sense of the magnitude of these thefts, the mechanic said. Most of my customers are just baffled. Like, why would somebody do this? ....

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Tight supply and hydrogen hopes drive iridium up 160%


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LONDON (Reuters) - Iridium has become the latest precious metal to undergo a spectacular price rally, after supply shortages and expectations it will be used to produce hydrogen to power a greener economy lifted its value by 160% in two months.
The difficulty of raising output means prices could rise further, analysts said.
A byproduct of platinum and palladium mining, iridium is vital for many industries. In shipping, it enables the chlorination of ballast water to stop vessels transporting invasive marine species, and for electronics, it is used in crucibles able to withstand the heat of crystal-making.
It can also serve as a catalyst in electrolysis to split water into oxygen and hydrogen, which is increasingly in demand as a cleaner source of power than fossil fuels. ....

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