• Thieves goal catalytic converters in cars as the costs of some uncommon metals utilized in them hit data this 12 months.
  • Catalytic converter thefts quadrupled in New York within the final 12 months.
  • The thefts have additionally been reported in different parts of the world, together with the UK and Japan.

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Thieves are on the hunt for auto parts as the costs of uncommon metals in catalytic converters hit new highs this 12 months.

Theft of the units which are part of a car’s exhaust and switch smog into much less dangerous emissions has quadrupled within the final 12 months, in line with the New York Submit.

As of October 10 this 12 months, 2,170 catalytic converters had been stolen nationwide, up from 501 final 12 months, the newspaper reported, citing the NYPD.

“The entire course of takes lower than two minutes,” mentioned Detective Thomas Kelly of the Submit State’s Auto Crimes Unit.

Comparable will increase in thefts had been reported in California, Maine, and Illinois.

Though there are just a few grams of pricey metals akin to rhodium, palladium and platinum in catalysts, they fetch excessive costs even on the scrap market.

Rhodium hit a report value of round $ 30,000 an oz. in March and palladium hit a report value of round $ 3,000 an oz. in Could. Though each of them have hit highs, they’re nonetheless dearer than gold, which at the moment prices round $ 1,800 an oz.. Platinum now sells for round $ 1,000 an oz..

The rise in catalytic converter thefts is not only affecting the US.

Within the UK, auto part theft has elevated this 12 months, the BBC reported. Vehicle group RAC and insurer Ageas introduced in April that 30% of thefts from non-public automobiles had been as a result of crime, up from 20% earlier than the pandemic.

Such thefts have additionally been reported in Japan, in line with Nikkei. The nation’s nationwide police company is urging recycling corporations to confirm the identification of the scrap sellers and maintain a report of the transactions, the information company added.

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