Latest news with #catalyticConverters
BBC News
6 days ago
- BBC News
North East ambulances targeted in catalytic converter thefts
Four ambulances have been taken out of action after thieves stole their catalytic Police said it believed two culprits broke into a compound in the Portrack area of Stockton-on-Tees at about 04:00 targeted were Cipher vehicles, a private company that provides ambulances and medical teams to the NHS, as well as event medical repair bill will be more than £11,000 across the four vehicles, officers said. The forces is asking for anyone with information or relevant footage of suspicious activity in the area, to get in touch. Follow BBC Tees on X, Facebook, Nextdoor and Instagram.
Globe and Mail
21-06-2025
- Automotive
- Globe and Mail
Precious metals: platinum edition
Platinum has recently captured market attention with a notable price breakout, definitively pushing above US$1,100 per ounce, after spending much of this decade rangebound between US$850-$1,100 per ounce. A primary catalyst for this shift in platinum's fortunes lies in the evolving landscape of the automotive industry. For years, the anticipated dominance of electric vehicles (EVs) cast a long shadow over platinum demand, given that approximately one-third to nearly half of its use is in catalytic converters for internal combustion engines. However, a significant pivot is underway. Auto original equipment manufacturers (OEMs) are now re-evaluating and scaling back ambitious EV targets, instead placing a renewed emphasis on hybrid engines. Growing demand This may be a considerable boon for platinum, not only because hybrids still incorporate catalytic converters, but critically, these vehicles demand more platinum per unit. The start-stop technology and extended battery-only operation in hybrids mean their catalytic converters often run at lower temperatures, requiring a higher concentration of platinum to maintain optimal efficiency. Beyond the automotive sector, robust jewelry demand is providing substantial support to platinum's price. Historically, a price increase might dampen jewelry sales, but in the current environment, particularly in key markets like China, demand remains strong. A significant factor here is the compelling price disparity between platinum and gold. With platinum currently trading at approximately one-third the price of gold, a substantial gap exists, making platinum jewelry an attractive alternative. This stark difference suggests that jewelry demand is not only supportive of the current breakout but has the potential to further bolster the demand side of the equation. Platinum/gold ratio shifting Adding another layer to this positive narrative is the recent upward trend in the platinum-to-gold ratio. This ratio, which had seen a prolonged decline partly fueled by the 'platinum is dead' narrative linked to EV expectations, is now signaling a change in investor sentiment. The recent movement of platinum outpacing gold suggests that investors are increasingly looking for value beyond traditional safe havens and may be diversifying into platinum as a store of value. In summary, platinum's recent price surge is underpinned by several powerful forces. These include a turn to positive net long positions among traders, a fundamental shift in the auto industry towards hybrid vehicles, sustained strong jewelry demand driven by an attractive price differential with gold, and a notable re-evaluation of platinum's investment appeal relative to gold. Collectively, these factors suggest a robust and potentially lasting upward trajectory for the metal. John Kratochwil, MBA, is Senior Analyst at AGF Management Ltd. specializing in the Materials (ex-Chemicals) and Real Estate sectors. Notes and Disclaimer Content copyright © 2025 by AGF Ltd. This article first appeared in AGF Perspectives. Reprinted with permission. The views expressed are those of the author and do not necessarily represent the opinions of AGF, its subsidiaries or any of its affiliated companies, funds, or investment strategies. Commentary and data sourced from Bloomberg, Reuters and other news sources unless otherwise noted. The commentaries contained herein are provided as a general source of information based on information available as of June 10, 2025. It is not intended to address the needs, circumstances, and objectives of any specific investor. The content of this commentary is not to be used or construed as investment advice, as an offer to buy or sell any securities, and is not intended to suggest taking or refraining from any course of action. 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BBC News
19-05-2025
- Business
- BBC News
Edvars Stancik fled over £4m illegal catalytic converter trading
A businessman fled to Lithuania after making £4.3m from illegally trading in catalytic converters and is still on the run, a court Stancik, who was director of Platinum Group Metals Recycling Ltd which was based in Spalding, Lincolnshire, was found guilty of multiple charges in his absence after he failed to attend his trial at Lincoln Crown Court in September traded catalytic converters on a large scale between December 2019 and September 2021 through the arrest warrant was issued for Stancik and his case was adjourned for investigators to pursue his financial assets but a proceeds of crime hearing on Friday was told he had still not been arrested. Recorder John Hardy KC told the court Stancik, formerly of St Thomas Court, Long Sutton, had "decamped from the country after illegally selling catalytic converters without the required authorisation".The court heard investigators found a likely address for the 31-year-old in Lithuania but he failed to respond. However, extradition proceedings had not begun and the Environment Agency was trying to recover the costs of their inquiry via assets seized from his company. Recorder Hardy ruled Stancik reaped £4.3m from his criminal activity with his company benefiting from a similar court heard assets of nearly £500,000 were available from the company made up of cash in the firm's bank account and seized catalytic only asset is £30,934 from equity in a house he sold before his trial, the court was judge ordered those amounts to be confiscated and ruled more than £100,000 should be paid to the agency in compensation to cover the costs of their said the businessman was likely to face a custodial sentence when arrested and future applications could be made to seize more assets if they were to the agency, Stancik stored the car parts at his home address and at containers in Lime Walk, Long Sutton. The devices were "stored in an irresponsible manner giving rise to an unacceptable risk to human health".The agency's investigation found Stancik and his company had been buying large quantities of catalytic converters and sold at least 71 tonnes of them for recycling. Many of them were found "damaged, exposing their dangerous innards" following a search of his pleaded not guilty to four environmental offences including two counts of causing a company to operate a regulated facility without the necessary authorisation and two of causing a company to commit an Group Metals Recycling Ltd denied charges of operating two waste sites in Long Sutton without the required permits and two counts of storing waste at the same premises without a permit and in a manner likely to cause harm to human health. Listen to highlights from Lincolnshire on BBC Sounds, watch the latest episode of Look North or tell us about a story you think we should be covering here.
