If you own a petrol or diesel car, there's a hidden treasure under your vehicle that is your catalytic converter. Inside it are three extremely valuable precious metals: Platinum, Palladium and Rhodium. These metals, known as Platinum Group Metals (PGMs), are essential for reducing harmful emissions. In today's market, their value is at few years high, making them a sought-after resource for recycling companies like Urban PGM.
PGMs (Platinum Group Metals) include six rare metals: Platinum, Palladium, Rhodium, Iridium, Osmium, and Ruthenium.
Chemically similar
They have comparable physical and chemical properties, often found together in nature.High value
Due to rarity and industrial demand.Catalytic properties
Excellent at speeding up chemical reactions without being consumed, making them essential in catalytic converters, chemical processing, and fuel cells.High melting points & corrosion resistance
Suitable for extreme industrial conditions.Main Primary sources
Mined mostly in South Africa, Russia, and Zimbabwe.Indefinitely recyclable
These metals can be recycled though full circularity is complex process.Automotive catalytic converters (Platinum, Palladium, Rhodium)
Jewelry (Platinum)
Electronics & electrical contacts
Chemical production catalysts
Hydrogen production and fuel cells
For automotive purposes, Platinum, Palladium, and Rhodium are the most important.
Speeds up chemical reactions that turn carbon monoxide into less harmful carbon dioxide.
CO → CO₂
Reduces harmful nitrogen oxides (NOx) into nitrogen and oxygen.
2 NOx → N₂ + O₂
Especially effective in removing NOx gases, one of the main causes of smog.
NOx removal → cleaner exhaust
Without PGMs, modern cars would not meet emission standards. This is why they are valuable both industrially and financially.
In 2025, the PGM value in India is strongly influenced by:
Because they are rare and in high demand, scrap catalytic converters are a value making proposition for recyclers.
Rhodium
~$7,400/oz
Most expensive PGM in 2025
Iridium
~$4,700/oz
High demand in electronics & aerospace
Platinum & Palladium
~$1,100-1,350/oz
Auto industry core metals
Ruthenium
~$830/oz
Affordable but niche industrial uses
Most recyclers adopt their own efficient system and specialize in safety and efficiently extracting PGMs from used catalytic converters. The Broader process of Recycling is categorised in two parts mechanical processing and Metallurgical processing. For simplicity it can be elaborated as below:
Collect scrap catalytic converters from individuals, workshops, and scrapyards.
Opening the converter to access the ceramic honeycomb containing PGMs.
Powdering the ceramic to prepare for PGM extraction.
Using advanced chemical and thermal processes to separate and purify Platinum, Palladium, and Rhodium.
Supplying recovered PGMs to industries that need them.
This recycling process reduces the need for mining, conserves natural resources, and supports a circular economy. Learn more about our recycling process on our Services page.
The PGMs inside your catalytic converter are more valuable than you think. With prices soaring in 2025, recycling your old converter is both profitable and environmentally responsible.
At Urban PGM, we ensure you get the best market rates for your scrap while contributing to a greener planet.
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Catalysing Circularity in Critical Metals.
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