I have to agree with Pat on this. I think the few refineries in the world are having the last laugh. There are several reasons i am inclined to think so. First is proper due diligence on the part of the many bulk buyers who have jumped on the band wagon.
I am getting the impression that not too many are properly sampling and assaying their material before submitting it to the smelter. Just skipping that step all together or allowing the smelting operation do it for them.
I get the impression not many are paying to rep their material through the smelting operation, or going to do it them self. Just skip that step as well.
I get the impression that not too many are "highgrading" their material properly. If you are paying a buck a pound for smelting, you better be removing steel, aluminum, screws and any thing else that is going to COST you money to process.
It would be easy for a refiner to screw you royally in such a business model. There are some fantastic posts on here about how material should be handled before, during and after smelting to make sure you get out what you put in, however I get the impression that not many are doing it, Which can close the door entirely for others in the future who would like to do it right. After all it is very easy for a smelter to site safety reasons and policy changes to discourage the few that may try. The common practice of due diligence is being weeded out of the industry.
There was an excuse here for a while that some shipments of boards from China had been cyanide stripped and shipped back here and resold to bulk buyers who took a bath and bla bla bla.... All a load of horse you know what. Then low grade Chinese boards... bla bla bla.. more horse droppings.
The trouble is the smelter is the last liar, if you don't sample,assay and rep, how would you know what you sent in? Just my humble opinion.