The report says palladium, the precious metal that make up catalytic converters, is now more expensive than gold, with the stolen converters being worth over $200 each.
March 2, 2020—The Quad-Cities—made up of Davenport and Bettendorf, Iowa, and Rock Island, Moline and East Moline, Ill.—have been hit recently by many catalytic converters thieves, with the Quad-City Timessaying they are being mined for its precious metals.
According to the report, soaring palladium prices are the inspiration behind the thefts, with a trio of Moline businesses hit recently. Catalytic converters contain palladium, with the price of the metal climbing more than 50 percent since mid-August. The report says palladium is now more expensive than gold, with the stolen converters being worth over $200 each.
Other businesses in the are have been targeted, with local business, AAA Rents, out almost $11,000 for catalytic converter replacements.
Check out the latest catalytic converter thefts and what shop owners should look out for.
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