What Is the Best Way to Sell Palladium Scrap Today?
With high palladium trading prices, now is a good time to liquidate your palladium scrap holdings.
Demand is high. Because palladium is a secondary product that is recovered from platinum and nickel mining, miners have limited ability to increase palladium output in response to rising prices.
And that shortfall, which creates a need for palladium that has been recovered from scrap, should continue. South Africa, which produces about 40% of the world’s supply of new palladium, reports that its output of platinum group metals from mines, including palladium, has fallen by about 13% in the last year.
Today’s annual worldwide demand for palladium has averaged at just under 10 million ounces or around 300 metric tons per year. However, the demand for palladium has been increasing in recent years due in part to its continuing use in catalysts.
In fact, the majority of palladium, more than 80%, is used in cat converters that turn toxic gases, such as carbon monoxide, and nitrogen dioxide, into less harmful nitrogen, carbon dioxide, and water vapor.
Where Can You Find Palladium Scrap?
Palladium can be found in a variety of devices – even common ones found in many households. Here are some examples:
Electronics - Palladium is often used in cellphones and laptops, and it’s also found in ceramic capacitors having multiple layers. Due to the metal’s high level of conductivity, manufacturers commonly include it in the connector plates of a variety of electronic products.
Jewelry - Palladium is used in jewelry, such as belt buckles, necklaces, earrings, and rings. When combined with gold, palladium becomes white gold. Jewelry made with palladium is lighter in weight, doesn’t oxidize, and retains its luster, which reduces the need for cleaning and polishing.
Photography - Palladium salts are used to create photographs. Palladium salts combined with platinum are used in the platinum printing process to create black-and-white photographs.
Musical instruments - Palladium is used to construct the tubes contained within flutes.
Dental appliances - Palladium is sometimes used in dental fillings, bridges, or crowns.
Medical testing devices – Palladium is used in probes that are used to conduct medical tests, and even in devices as common as pacemakers and implantable defibrillators.
Selling Your Palladium Scrap for Top Dollar
It’s important to note that the value of your palladium scrap will depend on several factors, including the weight, purity and of course, the current market price of palladium.
To sell your palladium scrap for top dollar, call Specialty Metals Smelters and Refiners at 800-426-2344 or email sales@specialtymetals.com.
Our precious metals refiners are here to answer all your questions about getting top dollar for all your precious metal scrap. If you have scrap to sell or would like to know more, call today.