Why is the pay-out per gram lower than the spot price?

Refiners take a margin to cover smelting, pyrolysis, dissolution, and assay risk. Typical pay-outs are 85 to 95 percent of spot for clean CCM scrap and lower for mixed loads.

What recovery yield should I assume?

Clean dry CCM scrap typically returns 95 to 99 percent. End-of-life stacks with bonded gas diffusion media or graphitic carbon return less because of incomplete metal liberation.

Can I use this for Ir or Ru recovery?

Yes. The math is the same; substitute the Ir or Ru pay-out per gram and your refiner's quoted recovery yield for that metal.

How do assay fees figure in?

Treat assay, sealed container, and freight as the fixed adjustment. Subtract them from the variable recovery value to get the net credit you can book on the standard cost roll.

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Platinum Recovery Value Calculator

Estimate the credit you should expect from sending precious-metal scrap to the refiner. Enter the grams of Pt, Ir, or PtRu held in the scrap pool, the refiner pay-out per gram (after their margin), the recovery yield they will book, and any fixed assay or container fee. The calculator returns the variable recovery value and the loaded total credit.

What this calculator does

Estimate the recoverable Pt or Ir value from scrapped MEAs, end-of-life stacks, and coater-side ink rejects from grams of metal in scrap, the refiner pay-out per gram, the recovery yield, and a fixed assay or refining fee.
Use it when a procurement lead or sustainability manager is sizing the credit from sending CCM scrap and end-of-life stacks to a precious-metal refiner, before signing or renewing the toll-refining contract.
It returns the recoverable Pt, Ir, or PtRu credit on a scrap pool, including a fixed line for assay, container, and freight cost.

Formula used

Variable platinum recovery value = grams of PGM × refiner pay-out per gram × refiner recovery yield
Net platinum recovery value = variable recovery value + fixed assay, container, and freight cost (sign per your accounting convention)

Inputs explained

PGM grams in the scrap pool: Use grams of Pt, Ir, or PtRu in scrap MEAs, CCM rejects, and end-of-life stacks tracked through your precious-metal ledger.
Refiner pay-out per gram of metal: Use the contracted pay-out per gram from the toll refiner (after their margin and lot deduction).
Refiner recovery yield: Use the contracted or historical refiner recovery yield (typical 95 to 99 percent for clean CCM scrap, lower for mixed assemblies).
Fixed assay, container, and freight cost: Subtract assay fees, lot acceptance, sealed container, and freight cost as a positive number; enter as a positive value to deduct from the credit per your accounting convention.

How to use the result

Run it before sending the next scrap shipment to the refiner, when comparing two refiner offers, or when the finance team needs a defensible scrap-credit value for the standard cost roll.
It assumes the scrap pool weight and metal share are accurate. If your CCM scrap is mixed with gas diffusion media or membrane edge trim, get an X-ray fluorescence (XRF) assay before assuming the gram count.

Common questions

Why is the pay-out per gram lower than the spot price? Refiners take a margin to cover smelting, pyrolysis, dissolution, and assay risk. Typical pay-outs are 85 to 95 percent of spot for clean CCM scrap and lower for mixed loads.
What recovery yield should I assume? Clean dry CCM scrap typically returns 95 to 99 percent. End-of-life stacks with bonded gas diffusion media or graphitic carbon return less because of incomplete metal liberation.
Can I use this for Ir or Ru recovery? Yes. The math is the same; substitute the Ir or Ru pay-out per gram and your refiner's quoted recovery yield for that metal.
How do assay fees figure in? Treat assay, sealed container, and freight as the fixed adjustment. Subtract them from the variable recovery value to get the net credit you can book on the standard cost roll.

Last reviewed 2026-05-12.