Last Updated :
15 March 2010 at 11:35 IST
Platinum spike, catalytic converter theft rises
COLORADO, USA (Commodity Online):Authorities in Colorado said a spike in the price of three precious metals found in catalytic converters has led to a rash of auto-part thefts.
Police in Aurora said they marked 17 recent thefts of the converters, which sit between a vehicle's engine and muffler and help convert engine exhaust into less damaging chemicals, and Thornton police said there were six reported catalytic converter thefts last week alone, the
Denver Post reported Friday.
Thornton officers said all of the thefts involved Toyota 4Runners or pickups made from 1986 to 2004.
Kenny Anderson, owner of Anderson's Sales and Salvage in Greeley, said the thefts are likely the result of recent rises in the prices of platinum, palladium and rhodium, which are found in the auto parts. He said the converters can fetch from $30 to $200 on the black market.
Stevinson Toyota West in Lakewood said replacement parts can cost from $500 to $1,000
.(EUNewsNet.com and OfficialWire)
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