22 Oct How do I maximize platinum scrap refining returns?
Thank you for taking your first step toward maximizing your platinum refining returns with QML Inc.
You’ll find platinum scrap in a number of sources. The silver-white metal is soft, malleable and heavy, about twice as heavy as gold, and impervious to corrosion.
That makes it an excellent material for catalytic converters, thermocouples in air conditioners and industrial stoves, and jewelry, particularly engagement rings during the last few decades. However, most of the metal mined is used in catalytic converters and in fine jewelry. Scrap from auto dealerships, mechanics and jewelry factories are good sources of the metal.
Getting the most out of the platinum scrap refining process at a platinum refinery requires close attention to measurement and strict attention to detail.
Sort and estimate your platinum scrap
Knowing the qualities of the metal and the industrial sources most likely to produce large quantities of left-over platinum equips you well for collecting stockpiles of platinum scrap containing the metal.
Sorting the platinum scrap according to source, quality and likely platinum content is a basic, but important step in making an accurate estimate of the precious metal you’ve accumulated.
Next, estimate your returns by taking measurements and mass balance returns. You’ve likely gone through the process before, so consulting historical results to look for patterns and deviations will help you refine your estimated return.
This organized approach, particularly when communicated to your refiner, is your best strategy for maximizing your returns.
Don’t be discouraged by a platinum refiner’s higher up-front fees.
Price shopping on up-front costs, such as smelter processing and refiner costs, can tend to catch up to you later in the platinum refining process, since refiners typically make up for the up-front costs by lowering the value of your returns.
If the price seems too good to be true, it probably is. The shrewd choice is the one that maximizes your platinum refining process returns when you’re finished, not cutting corners early in the process.
Don’t delay compensation, or let the metal out of your sight
Require immediate payment from the refiner, and make sure your metal isn’t out of your sight, or the supervision of your representative, during the refining process. Discuss terms at the start of the process to ensure you’ll be supervising the entire process and that there’s no prolonged wait for payment at the end.
Practical preparation, organization, supervision and communication will ensure a smooth journey toward the most accurate results, the maximum return you can expect from refining your platinum scrap.