February 25, 2026: Platinum Surges Past $2,300 as Precious Metals Rally Lifts Catalytic Converter Values to Monthly Highs

Market Overview

Wednesday trading delivers the biggest precious metals story of the week so far. Platinum has surged past $2,300 per ounce for the first time in weeks, now trading at $2,318 — a staggering 7.3% jump that has catalytic converter buyers scrambling to adjust their pricing sheets. Palladium climbed to $1,788 while rhodium held firm at $11,850. Gold punched through $5,200 and silver is flirting with $91, underscoring a broad-based precious metals rally that’s lifting the entire auto recycling sector.

For salvage yards across New Hampshire, Massachusetts, and the broader New England region, this is the strongest precious metals environment in over six weeks. Catalytic converter values are at monthly highs, ferrous markets remain stable, and junk car volume continues to build as tax refund season approaches its peak.

For yesterday’s full analysis, see our February 24, 2026 market report.

Scrap Metal Pricing Trends

Ferrous Scrap Market

Shredded steel is trading at $310–$325 per ton on Wednesday, holding above the psychologically important $310 level for the fourth consecutive session. Mill buying activity across the Northeast remains consistent, with domestic construction demand and Turkish export pricing providing a solid floor. Early March buy program discussions suggest mills are comfortable at current levels with potential for modest upside.

Heavy melt steel is at $275–$292 per ton, with the shredded premium intact. Yards running efficient sorting operations continue to capture the spread between grades.

Non-Ferrous Scrap Market

Copper is trading at $5.78–$5.90 per pound for #1 bare bright, pulling back slightly from Monday’s highs but remaining historically strong above $5.75. #2 copper is at $5.42–$5.55 per pound. Insulated wire demand from domestic processors remains robust.

Aluminum is holding at $1.38–$1.45 per pound for clean sheet, up nearly 3% on the week and quietly having its best month of 2026. Cast aluminum is moving at $0.66–$0.72 per pound. The aluminum strength is particularly relevant for yards processing engine blocks and transmission cases.

Precious Metals and Catalytic Converters

Catalytic converter values have hit their highest point this month, now ranging from $225–$495 for common units. Premium converters from full-size trucks and SUVs are commanding $520–$580, with select high-grade units from late-model Toyota, Honda, and Ford vehicles pushing past $500. If you’ve been holding converters waiting for a better price window, this is the week to move them.

Junk Car Demand

End-of-life vehicle acquisition remains strong across greater New England. Pickup scheduling has stretched to 3–4 business days in most service areas, up from 2–3 days last week — a clear signal that demand is accelerating. Standard sedan offers are in the $300–$675 range, while trucks and full-size SUVs are commanding $525–$1,275 as the precious metals premium continues to lift valuations across the board.

Tax refund-driven selling volume is building rapidly, with regional operators reporting call volume up roughly 20% compared to the same period last year. This trend is expected to intensify through the first two weeks of March.

Used Vehicle Resale Market

The wholesale used vehicle market continues to favor trucks and SUVs. Toyota Tacomas and Ford F-150s in the $8,500–$15,000 wholesale range are drawing competitive bidding at regional auctions. The Manheim Used Vehicle Value Index dipped about 1.4% week-over-week but remains up 4.2% year-over-year, tracking the normal seasonal pattern as dealers begin spring restocking.

Auction conversion rates across New England are running around 67–69%, indicating motivated buyers and healthy inventory turnover. Salvage-title vehicles moving into export channels remain a strong revenue stream, with Japanese makes bound for West African and Caribbean markets as top performers.

• Wholesale truck prices holding firm week-over-week
• Sedan segment showing gradual improvement after weeks of softness
• Export demand strengthening for Toyota, Honda, and Nissan platforms
• Spring dealer restocking beginning to influence auction competition

Seasonal and Economic Influences

• Tax refund disbursements accelerating — IRS processing volumes running ahead of last year
• NH fuel prices stable around $3.45/gallon, keeping towing costs predictable
• Manufacturing PMI at 51.3, signaling continued expansion supporting metals demand
• Federal Reserve holding rates steady, giving commodities room to run
• February weather pushing older vehicles past repair-or-replace thresholds

Market Outlook

The precious metals rally could have more room to run based on current momentum. Platinum’s breakout above $2,300 is technically significant, and the broader gold and silver strength suggests institutional money is rotating into commodities. For salvage operations, the next 48–72 hours represent an optimal selling window for catalytic converters and PGM-rich scrap.

Looking ahead to March, the convergence of peak tax refund volume, strengthening precious metals, and stable ferrous pricing creates the most favorable operating environment since late December. Yards that are building inventory now — particularly aluminum-rich vehicles and anything with intact catalytic converters — will be positioned to maximize returns as seasonal demand peaks in April and May.

Action Items for Salvage Operations

• Move catalytic converters this week while platinum is above $2,300
• Prioritize aluminum-heavy vehicles in intake processing
• Build inventory of 2018–2022 model year vehicles for parts demand
• Monitor copper for potential rebound next week
• Ensure yard capacity is optimized for March volume surge

Get a quote on your junk car or parts pricing today: Call (603) 392-7313 | 603 Auto Salvage, 55 Plaistow Rd, Plaistow, NH 03865