With all of the markets going into a tailspin over the last week we have been watching Palladium and other metals very closely. We have seen an erosion of most commodity markets during March 2020 as the COVID 19 has gone into effect.
We have seen Palladium (and its cousins Platinum and Rhodium) take nosedives over the last few weeks after reaching some record high numbers in the beginning of 2020. Other than the obvious reasons of supply and demand being put down right now- we are going to be in a wait and see mode on how all commodities recover. With the metal down over 40% from the end of February 2020 to the middle of March 2020- we have seen a swift pullback happening.
Until things begin to return to normalcy we assume that there will be a big upset in the markets for the foreseeable future as Palladium is not treated as much of a safe haven as gold is and has been for years.
Palladium has really been one of the craziest things to watch this year as well as the rhodium prices. With the palladium being one of the primary metals found inside of catalytic converters, it is also been one of the most sought after metals over the last few years as emission standards have increased. Palladium and platinum have been some of the bright spots in an otherwise dreary 2020 commodities world as these metals demands have outpaced the supply.
With these precious metals been heavily sought after it would be surprising to find out that they are not specifically mined for. These are generally metals that are mined l and pulled out after looking for other elements in the ground and these are the scrap if you will from them. It’s very surprising to find some of these things out and when we look at these different metals it’s always interesting to learn more about them and to see how the demand is outweighing the supply right now.
If you’re looking to sell your catalytic converter’s you can always go to www.RRCats.com which will give you the ability to learn about Catalytic Converter prices as the people over at Rockaway recycling are constantly looking at these precious metal markets to ensure correct pricing.
Part of the reason the palladium prices have been so much higher than platinum prices has been due to the fact of the widespread use compared to Platinum. Analysts are talking about using the metal to continue to combat climate change throughout the world as it helps negate many of the missions from gas and other fossil fuel vehicles.
Sometimes knowing why metals are used will prove to be extremely valuable because you will be able to start to accumulate, hold and possibly speculate on different price increases throughout the markets. At iScrap we continue to look at multiple commodities markets and we try to learn house are going to react when they are going to react and give you more information to give you the opportunity to cash in on different speculation and market events.