Recent media reports indicate police are warning of increases in theft of auto-mobiles’ catalytic converters across parts of the United States. As recently as Friday, authorities in the city of Corpus Christi, Texas told media the theft rate of the item is up 312% for their city. The parts contain an array of precious metals, which are quite valuable today. The converters serve to reduce harmful emissions.
Prices of one of the metals, rhodium, has been increasing for past several months. According to multiple reports, one troy ounce, about 31 grams, of the metal was worth around USD23–27 thousand. The converters also contain palladium and platinum, both of which are precious metals, both valuable. Just this year, police in Lakewood, Washington report they’ve received 45 incident reports on stolen catalytic converters.
To curb the thefts, police recommend citizens park their car in a garage or in a well-lit area. Police also recommend installing security cameras in areas where owners park their car. Additionally, police suggest installing a piece of sheet metal to cover the catalytic converter can help thwart thieves.
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