www.maysville-online.com/articles/2008/08/01/lifestyles -
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Published on: 1/1/2008
Last Visited: 8/1/2008
Jimmy Butler, owner of Butler Recycling in Maysville agrees it is the platinum content of foreign brand vehicles which makes them more appealing than American made cars.
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All three of the metals are used in catalytic converters, but platinum is the primary metal, Butler said.In addition to the internal metals or alloys, the entire unit is made of steel, another recyclable metal.
Butler Recycling does not process the metals from the units.Once any product comes into their facility, it is then shipped to a processing facility.
Butler said one of the driving factors behind the increase in thefts can be attributed to the stock market which has seen an increase in prices for precious metals such as platinum and copper, which in turns offers a higher profit margin to those who recycle.
Butler said as a consumer we look for lower prices when shopping, for those who are looking to make money through recycling metals, they look for the product which yields the highest return.
And it isn't just platinum which has increased in value on the stock market; aluminum cans are now bringing in more money than before, moving from an average of .60 cents per pound in 2007 to 80 cents per pound today.
Butler also said he believes it's the state of the American economy which is contributing to the increased number of thefts.Citing rising fuel prices, food prices, and health care, Butler said in his opinion, more than a new law which takes affect July 15, 2008 has contributed to the escalating problem.
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Butler said he has already been taking photographs of each item, except transmissions and batteries, which comes into his business, as well as recording the person's license plate number and making copies of driver's licenses.All of which have been a requirement for copper recycling under state law, but a practice Butler said he adopted several years ago and has applied to all transactions at his business, with the noted exceptions.
Butler said the price offered for catalytic converters at his business ranges from ,14 to ,300 per unit, based upon the make and model of the car the converter came from.