The precious metal rhodium has hit a seven-year high in prices, which could account for the spike in catalytic converter thefts reported by the Santa Barbara County Sheriff's Office. More than a dozen have been stolen in the past several weeks, reported Sheriff's spokesperson Kelly Hoover, mostly from Toyotas and Hondas. Rhodium is recovered as a byproduct of platinum mining, which has fallen off in recent years due to lower prices leading to a relative scarcity of rhodium. Catalytic converters also use palladium to achieve their emissions reductions.
Catalytic Converter Thefts Rise in Santa Barbara County
Thievery matches increased price of precious metal rhodium.
