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Palladium Is a Hot Commodity for Chicago Car Thieves

  • Police alert city residents to thefts of catalytic converters
  • Price has jumped 43% in 2017, most among main precious metals
A catalytic converter.

A catalytic converter.

Photographer: Tony Margiocchi/Barcroft Media via Getty Images
Updated on

Investors aren’t the only ones who have noticed palladium’s surge this year.

To appreciate the impact of the recent jump in prices, one need look no further than the streets of Chicago. A police locale put out a bulletin on Oct. 23 alerting residents to thefts of catalytic converters, vehicle pollution-control devices that contain palladium. About 75 percent of palladium demand is related to the production of auto-catalysts, Societe Generale SA said in a note.