Trouble ahead for the palladium market

Kitco Mining
Kitco Mining
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Publicado 2024-07-19
The palladium market will be over-supplied, said Oliver Krestin, managing director of Hensel Recycling.

This week Krestin recorded an episode of Green Rush with Matt Watson, founder of Precious Metals Commodity Management LLC.

Headquartered in Germany, Hensel Recycling Group is a precious metal recycling business that has been operating since 1998. The company has over 240 employees. Hensel recycles automotive and industrial catalytic converters, oxygen sensors, e-scrap, and critical raw materials from the hydrogen economy.

Watson and Krestin talked about the automotive industry and internal combustion engines, which rely on catalytic converters made from platinum group metals.

"We're harvesting so much palladium in the years to come," said Krestin. "This will have an impact on the price. So even if the market is growing, the margins will go significantly down, because the value of the catalyst will decrease."

Watson also noted that all the investment in artificial intelligence and semiconductors will result in a lot of electronic waste for recyclers. The waste contains trace amounts of precious metals.

0:00 - History of Hensel
4:01 - Catalytic converter market
7:40 - Platinum, palladium and rhodium demand from automotive market
27:46 - Hydrogen economy
34:00 - E-waste

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