If you haven’t read the latest PGM Market Report 2025 by Johnson Matthey, we have done so for you. The report paints a clear picture: the precious metals inside your catalytic converters — Platinum (Pt), Palladium (Pd), and Rhodium (Rh) — are entering a new phase of price movement and market uncertainty. 

As a recycler or supplier of spent catalytic converters, understanding where prices are headed is critical. It affects when you sell, who you sell to, and ultimately, how much you earn.

Let’s break down what the future holds for these key metals — and why working with a reliable recycling partner could be the smartest move you make this year.

Platinum (Pt): Tight Supply, Resilient Demand

Platinum remains in market deficit for the third year running. Mine output is declining, especially in South Africa, and industrial demand — from glass, chemical, and even defense industries — remains strong. 

While platinum prices were steady between US$900–$1,000/oz in 2024, they started climbing in early 2025, supported by geopolitical risks, inventory shortages, and gold’s record-breaking rally. 

What this means for you:

Converters with high platinum content (typically diesel or some hybrid models) could fetch better returns in the months ahead. If you’re dealing with platinum group metals recycling, don’t undervalue these units — proper analysis can significantly boost your payout.

Palladium (Pd): Facing Pressure 

Once the star of the PGM family, palladium is now facing headwinds: 

• Demand is shrinking as EVs take more market share 

• Tariff tensions are weighing down vehicle production 

• 2025 may see the market tip into surplus for the first time in years 

Palladium prices dropped to around US$900–$1,000/oz on average — matching platinum — with little sign of major recovery in the near term. 

What this means for you: 

Be cautious with converters that are palladium heavy. Accurate grading and pricing are key — avoid buying blindly at inflated per-piece rates. 

Rhodium (Rh): Rising Again 

Rhodium, the rarest and most volatile of the three, stabilized in 2024 and is showing signs of a rebound — touching US$6,000/oz in early 2025. 

Demand from the glass and chemical sectors is picking up again due to lower prices, while supply remains extremely limited. 

What this means for you:

If your converters contain rhodium (most gasoline types do), now is the time to capitalize! Accurate analysis can mean the difference between a fair payout and leaving thousands on the table.

Secondary Supply from Recycling: Why It Matters 

Outside of China, recycling volumes remain low. Fewer cars are being scrapped. That means less metal is hitting the market — and what is available, is worth more. 

But there’s a catch. 

If you’re selling to buyers who offer vague pricing or only quote per-piece, you may be missing out on the real value hidden in your lot — especially if you’re managing spent industrial catalyst recycling.

Why Working with a Trusted Recycler Matters 

In a market where margins are shrinking and volatility is high, trust and transparency aren’t optional — they’re essential. 

At BR Metals, we do things differently: 

• ISO-certified analysis — so you know exactly what’s in your lot 

• Real-time market-linked pricing — not guesswork or outdated rates 

• Patented sampling system — for fair, consistent results 

• Fast, accurate payouts — because your cash flow matters
  

Whether you’re looking to catalytic converter recycling parts or maximize your return from industrial catalysts, we help you get what you truly deserve. We don’t overpromise. We just deliver real value based on true PGM content. 

Final Thought: Timing + Trust = Better Profits 

Whether prices are rising or falling, what matters most is how accurately your converters are analysed — and whether your buyer is acting in your best interest. 

With platinum recovering, rhodium on the rise, and palladium under pressure, this is the time to be strategic. 

Sell smarter, not faster. Partner with a company that’s here for the long term, not just chasing short-term gain. 

Ready to get started? 

Ready to boost your returns? Email or contact us at +65 8102 5860 now for a free consultation and learn how we can help you turn converters into consistent profit.