Many data points must be considered to derive a fair and accurate price assessment.
Catalytic converters are the most complex nonferrous item in our industry. How to properly evaluate your returns and results can get confusing, especially when you are new to toll refining and assay. Most companies only look at their average price per unit, but this statistic can be extremely misleading. With that said, this article will give you a more in-depth explanation of all the important data points that should be tracked when selling to a toll refiner, which in turn will provide you with the confidence to review and interpret invoices from a toll refiner with ease.
Tallying things up
To begin, it all starts with your tally and having an accurate daily running count of your converters.
Some recyclers in our industry resort and count an entire load before it ships out; however, this typically increases the chance of errors. Having an organized tracking and inventory system in place from the start will prevent counting errors from occurring. A sophisticated counting system also will allow for accurate evaluation of gross and net weights from a final invoice because a true physical converter count will be recorded for each load.
As a side note, every time you fill a box of converters, the gaylord should be securely wrapped and remain unopened until it gets to your buyers’ facility.
Once a count is established, it’s important to work with a processor that also counts and touches each unit upon arrival. Having access and being provided with a detailed grading report is essential:
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