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The value of scrap catalytic converters is determined by the amount and type of precious metals contained within them. These metals typically include platinum, palladium, and rhodium, which are used in the chemical reactions that reduce harmful emissions in vehicles. Prices for these metals can fluctuate based on market demand and availability. Additionally, the make, model, and year of the vehicle can affect the converter’s value, as different vehicles may have converters with varying amounts of these precious metals. Finally, condition and weight of the converters also play a significant role in determining its overall value.