Some interesting new data has been published that suggests demand for new vehicles purchased since 2010 has increased three-fold. In China alone 28 million new cars were sold last year.
This positive outlook augurs well for the automotive recycling market and is reflected in the growing demand for platinum group metals.
Globally platinum derived from autocatalyst recycling climbed 3.9% in 2016 to 1.235 million ounces, reports the WPIC. In terms of total platinum supplies, including both primary and secondary sources, autocatalyst recycling now accounts for a 16% share of the total market.
Palladium, also recovered from the auto-recycling sector now represents 23% of total supply. The metal’s value has climbed back above US$800 an ounce to a near two-year high.
Recycal take an active interest in global trends, and visit and attend the key major conference and symposiums around the world, to ensure it is the forefront of industry insights and thinking on how best to service its scrap metal clients.