Rhodium in vehicles

Rhodium in vehicles

One of the valuable metals retrieved from scrap automobiles is the chemical element known as Rhodium, which is sought after by those scrapping cars and buying junk vehicles.  Those selling a junk car for cash to a “cash for cars” company may not realize the value of Rhodium.  Rhodium is defined by www.lenntech.com as being:  “Lustrous and silvery white; has a higher melting point & lower density than platinum. It is hard and durable. Upon heating it turns to the oxide when red and at higher temps turns back to the element. It is unaffected by air & water up to 600C. Most (85%) goes into catalytic converters for cars.” To see the article, visit http://www.lenntech.com/periodic/elements/rh.htm#ixzz38VKvn1nV

Think scrap automobiles have little value? What are those scrapping cars encountering in the market for this element? In an article from July 25, 2014 by Nick Jonson with Platts.com, “Continued strong demand from industrial consumers in Asia and buying by European banks and speculative funds helped propel rhodium prices further this week above $1,200/oz.  The Platts New York Dealer rhodium price spread rose to $1,150-1,240/oz from $1,125-1,175/oz last week. Some sources said sales were made as high as $1,245/oz.”

Cleveland Scrap Cars buys scrap automobiles and pays cash for cars in Cleveland. We offer a quick junk car quote, Need to junk a car for cash? We are Cleveland’s original “cash for cars“ company and we have been scrapping cars in Cuyahoga County 7 days a week for many years. We are an environmentally conscious option to dispose of scrap automobiles and to junk a car for cash.