Having complete converter inventory – transparent advantages
Know before you ship, know your converter inventory pre-shipment.
Published in Canadian Auto Recyclers Magazine 14#1, Pages 98-99 – March 2020
Montreal November 2019 – When a converter reaches the end of the road for evaluation it must be toll refined to determine the content of contained precious metals. Any prices given before this assay evaluation is; in all sincerity, a guess; educated or otherwise.
So why do many business owners in the automotive recycling industry still look to core buyers to evaluate the most valuable core they have? There are several reasons I have been given over the course of time ranging from, “I don’t have enough volume to toll refine,” to “We can’t afford to wait for the time toll refining takes for payment” and of course, the famous “Cash!” answer.
I have known and done business with many reputable core companies over the years who provide an invaluable service to automobile recyclers unable to access a toll refiner and in need of liquidity from their converters. However; it is important for those auto recyclers to know they are leaving anywhere from 15% to 30% on the table. Simple math on 100 units a month over the course of a year means an auto recycler could easily be leaving $50k of revenue to the said core buyer.
PMR has changed the converter business on all fronts. Starting with 100 converter toll refining minimums, strong advance payments and 10-day final settlements; why would you ever leave money on the table again? Working with PMR on your auto catalyst will take the mystery out of converters by providing the knowledge needed to maximize converter returns.
Committed to full transparency, PMR is able to provide suppliers with a pre-evaluation of their material before it leaves their yard using our innovative online Inventory Box program. The Inventory Box tool allows you to keep a complete inventory of your converters with stated expectations of returns. It only takes 20 minutes to inventory 100 units and get updated market evaluations until you ship them out.
Once in transit you can access up to 80% of the estimated value right away and within 10 business days of us receiving your material, we will make full and final settlement. Included in our reporting is the count sheet that will mirror your pre-evaluation and a full statement of recovered precious metals and the market price those metals were sold at. What would 15% to 30% more for your converters do for the bottom line in your business?
With consistent knowledge of your converter inventory/production, auto recyclers in the know are able to target the right cars to buy. Working with PMR will offer all the information you need about converters to take your auto recycling business to the next level. Give us a call. Send us a box. See the difference toll refining makes.
Pull quote: “We are able to provide our converter suppliers accurate pre-evaluation of material before it ever leaves your shop with our online Inventory Box program. “
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