junkyard palladium growing as an answer to waning resource

by:kingtool aluminium machinery     2020-04-11
With the supply of silver-palladium mining, garbage dump palladium is rapidly becoming a growing market
The white metal used to control harmful vehicle emissions is getting shorter and shorter.
Palladium prices have risen 83% since the medium term
In August, when some producers predicted a deficit of about 1 million ounces this year, recyclers were gaining an edge.
If raw materials were removed from holders at the same speed as 2018 in 2019, \"known inventory\" could run out in about a year, said Nikki healers, a strategist at Nova Scotia Bank
Recyclers can recover about 90% of the metal from catalytic converters for abandoned cars, with only a fraction of the cost of mining.
The result: as prices soar, the amount of palladium recovered has also surged.
10 months before 2018 3.
2 million ounces returned to the market, up 11% year on year.
This is almost half the output of the mine.
\"Recycling is where we expect the strongest growth,\" Standard Chartered analyst Suki Cooper said over the phone . \".
\"This is a big part of the total supply.
Spot palladium rose 1% to $1,546.
74 per ouncem. in New York.
About 80% of Palladium will eventually enter the exhaust system of the car, which helps to reduce the discharge of pollutants.
Harmful carbon dioxide and water vapor.
It is also used in electronics, dentistry and jewelry.
This metal is mainly mined in Russia and South Africa and is mainly extracted as a second product of other metals such as platinum or nickel.
The problem for the future, according to Cooper, is that both regions \"do not have new investments to increase production.
\"In 2019, Palladium production is expected to fall below demand for the eighth consecutive year.
Although some rare metals are even more valuable, the price is the first planned for palladium flat-topped Gold in December (s in 2000.
Scrap dealers \"know more about where the price of palladium is.
Cooper said that over the past two years, we have seen an increase in recycling due to rising platinum metal prices, including palladium, and rising steel prices.
At the same time, she added, \"scrap dealers are also recycling used cars at a faster rate.
\"Recyclers recycle about three grams of palladium in catalytic converters for three abandoned cars
The step process starting with the removal of the catalytic converter from the dealer.
The refinery will then use a large half
Before palladium is ground into fine powder in a large milling machine, the automatic cutter can reach Palladium. To make it 99.
According to BASF, 95% pure, powder is then condensed with electric furnaces and refined through wet chemical processes, BASF has recycling facilities in South Carolina, Michigan and the United StatesK.
At the same time, all of this is happening because with global efforts to reduce emissions of cleaner air, palladium consumption may increase with the production of electric vehicles, and Eily Ong, an analyst at Bloomberg News
\"The EU has a binding target of reducing emissions by at least 40% from 2030 levels by 1990, while China\'s target is
\"A 28% reduction from 2005 levels,\" Ong wrote in a report . \".
There are other factors that help recyclers.
According to Peter Duncan, with steel prices rising, sales of scrapped cars increased last year, and scrapped old cars were more profitable, with Johnson Mattel, general manager of market research, Inc. K. -
Headquartered in specialty chemicals.
Read more: a new star in the $900 billion auto aftermarket, while automakers can use palladium by turning to platinum with many of the same features, the change is not easy.
Studies have shown that technological progress is required before Platinum can match the performance of existing Palladium
Based on the catalytic converter, analysts said it could take 18 months to incorporate the switch.
At the same time, recyclers are doing their best to take advantage of the deficit.
\"The market trend is clear,\" Uve Kupka, president of Heraeus Precious Metals North America, said in an email.
He added that his company is now \"actively\" investing in its global recycling business.
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