You’ll be surprised where this metal is used…
Type of Metal:
This grayish-white, precious metal is valued because of its rarity, malleability, stability under hot conditions and ability to absorb a considerable amount of hydrogen at room temperature.
What it’s used for:
Named for the Greek goddess Pallas, palladium’s valuable properties place it in high demand within various industries. From auto makers to jewelers and electronics manufacturers, it helps make some very important products in today’s market including the touch screen on your smart phone. It is also used to make catalytic converters, ‘white gold’ alloys, and can be plated for high-conducive applications. Even dentists use this metal in dental applications as it can be mixed with other metals like gold. It is a great metal for making jewelry because its properties are similar to platinum, but it costs far less.
Where it comes from:
In 1803 William Hyde Wollaston discovered a way to separate palladium from its surrounding platinum ore. At least 44% of the global supply of palladium comes from Russia, followed by another 40% from South Africa, North America and Northern Europe.
So how much is it worth?
The average price for palladium in 2009 was $263 per troy ounce. Currently it stands around $775 per ounce.
Is it recyclable?
Palladium can be recycled, but it must be extracted from the other alloys that it was combined with. It is easily separated and reused for the same applications and industries. Roughly 1.5 million ounces of palladium was recovered through recycling efforts in 2011.
To find out what metals you can recycle at our Garner/Raleigh location, visit TT&E’s site for Scrap Metals We Buy >>