Precious metal scrap is densely concentrated in the automotive manufacturing, electronics and electrical, petrochemical, jewelry processing, aerospace, medical equipment, wastewater treatment plant, chemical catalyst production, power and energy, semiconductor, chlor-alkali, and laboratory instrument industries. In the automotive sector, catalytic converters contain platinum group metals such as platinum, palladium, and rhodium, used to purify exhaust gases; Discarded printed circuit boards (PCB recycling) in electronics contain gold, silver, and palladium present in contacts, plating, and soldering materials. Petrochemicals rely on platinum and palladium catalysts for cracking and reforming reactions, with spent catalysts forming high-value precious metal scrap. Medical instruments and imaging equipment components often incorporate platinum or iridium alloys; aerospace applications involve platinum group metal high-temperature alloys. Waste volumes in these sectors correlate directly with production scale—for instance, Japan annually recovers substantial gold from discarded electronics, achieving mobile phone recycling yields of 150 grams per ton.
Precious metal scrap recycling encompasses diverse industrial components: Titanium anodes and electrodes used in electrochemical industries feature surface coatings containing platinum group metals (e.g., iridium, ruthenium), which can be recovered via acid leaching or pyrometallurgical refining after deactivation. MMO or DSA anodes (mixed metal oxide or dimensionally stable anodes) contain iridium and ruthenium oxides, used in the chlor-alkali industry. Recovery requires precise separation of the titanium substrate from the active layer. Nickel mesh and nickel scrap are commonly found in batteries and electrolytic cells, with their value influenced by nickel scrap prices and associated components like cobalt and palladium. Iridium wire is used in high-temperature sensors and crucibles due to its high melting point (2466°C) and corrosion resistance; contamination must be avoided during recovery. Printed circuit boards (PCBs) contain gold (contacts), silver (plating), and palladium (chip bonding wires), recovered through crushing, sorting, and cyanide leaching. Hard alloys (e.g., tungsten-cobalt-based) contain rhodium or ruthenium and are used in cutting tools. Ceramic carriers in catalytic converters are loaded with platinum, palladium, and rhodium, extracted through crushing and smelting. Precious metal catalysts (e.g., palladium-carbon in chemical reactors) and iridium spark plugs (used in aircraft engines) are also high-value sources of precious metal scrap.
Components like turbine blades and combustion chambers in aircraft engines utilize nickel-based or cobalt-based high-temperature alloys containing precious metals such as rhenium, ruthenium, and iridium to enhance creep resistance and corrosion resistance. After service in extreme environments, these alloys can still be refined through electrolytic refining or vacuum smelting to recover precious metals. For instance, iridium-reinforced alloys used in turbine edge seals derive their scrap value from iridium content (typically 3%-8%) and purity. Recovery requires removing coatings (e.g., aluminized layers) and contaminants to prevent formation of difficult-to-process slag phases during smelting. Recovery rates for precious metals from aircraft high-temperature alloy scrap can exceed 92%, but rely on specialized testing (e.g., XRF analysis) to ensure fair valuation.
Precious metal scrap recycling prices are driven by four core factors:
1. Precious metal content and composition: Higher purity of target metals (e.g., rhodium, platinum) in scrap increases its value. Catalytic converters, for instance, are graded by platinum group metal loading, with high-grade scrap fetching up to three times the price of low-grade material.
2. International Market Price Fluctuations: Precious metal futures prices (e.g., London Platinum and Palladium Market quotes) directly determine scrap benchmark pricing. Rhodium, with annual production of only about 30 tons, experiences extreme price volatility, impacting rhodium scrap recovery profits.
3. Refining Complexity and Costs: Complex components (e.g., mixed metals in PCBs) require multi-step metallurgical processing, increasing energy consumption and chemical reagent costs while reducing net returns.
4. Supply-Demand Dynamics and Policy Environment: Automotive electrification reduces demand for platinum group metals, yet expansion in hydrogen energy (platinum catalysts) and electronics creates a new equilibrium. Additionally, import/export tariffs (e.g., U.S. scrap metal trade regulations) affect cross-border logistics costs.
In actual transactions, precious metal recycling companies determine precious metal content through sampling and fire assay methods, deducting processing fees (typically 10%-20% of metal value). Bulk supplies (e.g., entire lots of aerospace alloys) command premiums, while mixed or contaminated scrap faces discounts.
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