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Age old question: Selling ore vs. Reprocessing

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Author
Bryan Alderon
Regiment Of Naga Association
OnlyFleets.
#1 - 2014-08-12 21:11:30 UTC
Right, I've looked through the forum, google for a while, and I'm still having difficulties on this. Right now, selling veldspar is more valuable than refining it for me. I've been training the Veldspar Processing skill (currently lvl4), Reprocessing (lvl5) and Reprocessing Efficiency(currently lvl3).

As I understand it, NPC stations stop taxing your refine rate at around 6.7 standing - all well and good, I'm around 2.8 atm so I know I can work on that.

So, as far as I can tell, I can reduce the 'loss' by 6% through the remaining skill levels, and then another bit once my standing gets higher, but that increase seems quite small. Maybe I'm just selling this percentage short, but I thought it would be better to get some advice - am I doing something wrong?

TL;DR When does veldspar become profitable to refine, if at all? Or should I be moving to lower sec space and mining other ores?
Ekaterina 'Ghetto' Thurn
Department 10
#2 - 2014-08-12 21:44:02 UTC
For max refine/reprocess and 'zero take' for ores you need lvl 5 in Refining, Refinery Efficiency(Or new names for those skills Roll.) and the relevant ore processing skills for the ores you dealing with. You also need 6.67 'effective', ie including effect of 'social' skills you will hopefully have learnt, to attain the 'zero take' and also have the RX-804 hardwiring fitted which gives another 4% for refining/reprocessing. Those requirements would give you the maximum yield possible when you refine ore.

If you don't have the above all is not lost and you can still make the same amount of ISK. All you have to do is, when possible, only mine the 10% varieties of ore such as Dense Veldspar etc. Tritanium is still selling at a good price so Dense Veldspar is a good choice. Then instead of refining get a small POS tower, a compression array, and some fuel and charters. Save up some ore and then put up your POS temporarily, compress your ore, then take down your POS afterwards.

Work out the maximum refine yield for your ore/s and sell the compressed ore at the price you would have received based on the maximum mineral yield value. I'll leave you to work that bit out.

You mentioned mining in low sec. Don't do that - it's dangerous but more importantly you won't make any more ISK mining there than in high sec given the increased risk of ship loss.

" They're gonna feel pretty stupid when they find out. " Rick. " Find out what ? " Abraham. " They're screwing with the wrong people. " Rick. Season four.   ' The Walking Dead. ' .

Bryan Alderon
Regiment Of Naga Association
OnlyFleets.
#3 - 2014-08-12 22:34:37 UTC
Thank you for the advice!

I had no idea about the RX-804 implant, so that gives me another goal to work towards. I'll definitely need to start working on the other stuff as soon as possible too.
Zalbrak
Aliastra
Gallente Federation
#4 - 2014-08-12 23:51:07 UTC
Note that the price that you get for raw ore can be rationally higher than the price of the minerals you can achieve in high-sec, and compressed ore could be worth even more, because of the utility gained from easier transportation.

Ekaterina 'Ghetto' Thurn wrote:
Work out the maximum refine yield for your ore/s and sell the compressed ore at the price you would have received based on the maximum mineral yield value. I'll leave you to work that bit out.


Or you could compare that price to what people are willing to pay for compressed ore / minerals and either compress or refine depending on which is better
Shoogie
Serious Pixels
#5 - 2014-08-13 04:21:11 UTC
This isn't really an age-old question. Crius completely changed the decision making process three weeks ago. That is why Google is not very helpful yet.

It used to be that miners wanted to also refine their ore because minerals are easier to move around than the raw ore. Now, ore compression can be done in high sec. Compressed ore is even easier to move around than minerals.

So, as a manufacturer, I want to buy compressed ore. If you have refined it, it will cost me much more (time and/or isk) to get it moved to my manufacturing system. Secondly, I have a better refining facility than the basic NPC station. So I can get more minerals out of the same ore than you can. Those two factors mean I will be willing to pay more for unrefined ore than the minerals. There are many manufacturers like me who have come to the same conclusion.

I do want to say kudos for actually doing the math instead of pressing refine out of habit. You are one of the smart ones.
Styth spiting
Brutor Tribe
Minmatar Republic
#6 - 2014-08-13 05:26:29 UTC
Before the last expansion it was never a question. You always refined.

Now you need to look at compressed ore prices and determine if it is better to refine or to compress. Minerals will either stay in highsec or compressed ores will be moved to nullsec. I haven't looked at prices for a while now but I would be very surprised if compressed veldspar did not sell at a higher price then the refined trit. Because trit is always in high demand for capital production I would be surprised if the demand for trit hasn't decreased but the demand for compressed ores being in higher demand.
Jarnis McPieksu
Aliastra
Gallente Federation
#7 - 2014-08-13 06:22:47 UTC
"Should I refine my Ore?"

- Are you in null sec on a refinery station with maxed skills and required implants, preparing to build something?

YES -> Refine ore
NO -> Sell ore or sell compressed ore


"But..but... I build stuff from minerals. Should I refine my Ore?"

- Are you building so much stuff that hauling cheap minerals from Jita is out of the question?

YES -> Refine ore (knowing that you are paying a bit for saving some hauling time)
NO -> Sell ore or sell compressed ore

Compressed ore gives you more ISK but requires you to have access to a small POS and compression array.
Steve Ronuken
Fuzzwork Enterprises
Vote Steve Ronuken for CSM
#8 - 2014-08-13 12:17:21 UTC  |  Edited by: Steve Ronuken
Styth spiting wrote:
Before the last expansion it was never a question. You always refined.

Now you need to look at compressed ore prices and determine if it is better to refine or to compress. Minerals will either stay in highsec or compressed ores will be moved to nullsec. I haven't looked at prices for a while now but I would be very surprised if compressed veldspar did not sell at a higher price then the refined trit. Because trit is always in high demand for capital production I would be surprised if the demand for trit hasn't decreased but the demand for compressed ores being in higher demand.


The demand for Trit has indeed dropped. From 20 to 30 billion units per day, to 10ish. The price has also fallen. On the other hand, Ore prices have risen. So the tables which don't also display the ore prices (I need to update mine) aren't showing the whole picture.

https://www.fuzzwork.co.uk/market/marketdisplay.php?typeid=34&regionid=10000002

(copy and paste. it doesn't work right otherwise)


Edit: B for billion.

Woo! CSM XI!

Fuzzwork Enterprises

Twitter: @fuzzysteve on Twitter

Xuixien
Solar Winds Security Solutions
#9 - 2014-08-13 13:43:07 UTC
Steve Ronuken wrote:
Styth spiting wrote:
Before the last expansion it was never a question. You always refined.

Now you need to look at compressed ore prices and determine if it is better to refine or to compress. Minerals will either stay in highsec or compressed ores will be moved to nullsec. I haven't looked at prices for a while now but I would be very surprised if compressed veldspar did not sell at a higher price then the refined trit. Because trit is always in high demand for capital production I would be surprised if the demand for trit hasn't decreased but the demand for compressed ores being in higher demand.


The demand for Trit has indeed dropped. From 20 to 30 million units per day, to 10ish. The price has also fallen. On the other hand, Ore prices have risen. So the tables which don't also display the ore prices (I need to update mine) aren't showing the whole picture.

https://www.fuzzwork.co.uk/market/marketdisplay.php?typeid=34&regionid=10000002

(copy and paste. it doesn't work right otherwise)


Only 20-30 million units a day? Wow.

I can mine that in like a day.

BRB crashing Trit market.

Epic Space Cat, Horsegirl, Philanthropist

Bryan Alderon
Regiment Of Naga Association
OnlyFleets.
#10 - 2014-08-13 14:05:20 UTC
Thanks for all the advice guys - I've just started playing, so I wasn't aware that there had been such a big change in the recent update.

Right now, I'll probably stick to just selling the basic ore, I'm not fully up to speed with the POS arrays or their skills, but now I can aim towards those. As for the ores to mine, I spent an hour or so checking out the prices for the available ores in my area and it would seem that Veldspar is essentially the best option - I can earn around 4.2mil for every full cargo hold I mine, and it doesn't require any searching at all. Scordite a few systems away will earn me 4.4mil per hold, but that's a bit harder to find, and I'd need to train the skill for Scordite crystals to use in my strip miners. If I'm right, the time spent moving around to find Scordite is better spent just settling for Veldpsar, rather than chase an extra 200k per hold.
Qoi
Exert Force
#11 - 2014-08-13 15:13:21 UTC
Given the high price of compressed Veldspar it safe to say that the supply is currently not high enough. Mining veldspar and compressing is currently the most profitable mining activity in highsec. It will be interesting to see how the price develops once supply catches up with demand.

Plot here: https://c.1tau.de/public.php?service=files&t=d22d27cf13c828657a2714596cb516fd

http://eve-industry.org

Mr Omniblivion
Ministry of War
Amarr Empire
#12 - 2014-08-15 18:40:35 UTC  |  Edited by: Mr Omniblivion
Hi-sec miners should be compressing their ore and selling compressed ore on the market.

Supercap production is one of the highest demands of low end minerals (namely: trit). Because compression via modules is a thing of the past, supercap producers can only import trit via compressed ore. That is why you see the trit prices falling, but the ore prices rising. Trit itself is too expensive to move, so supercap producers now have zero demand for trit.

If you're mining and selling your ore in hi-sec, start compressing it and selling it for more profit.

Edit: There is definitely a shortage of compressed low ends, which is why prices keep going up. The bulk of supercap production has halted in 0.0 because of the lack of supply of compressed ore.
Falon Tsutola
Deep Core Mining Inc.
Caldari State
#13 - 2014-09-19 16:04:22 UTC
Is compression the way to go for Ice as well? Or, can you even compress Ice?

Thanks.
Mr Omniblivion
Ministry of War
Amarr Empire
#14 - 2014-09-19 16:14:03 UTC
If you're mining ice in highsec, then yes, I'd compress it. If you're mining in null, refine at a null station and move everything except stront to market. The components from ice weigh less than the compressed block- but if you refine in empire, you're losing out on 20% of the components. Therefore, you should be able to sell blocks for more isk than the components are worth, depending on which market you're in and how far you have to move it.
Tzar Sinak
Mythic Heights
#15 - 2014-09-19 18:43:17 UTC
Some one please correct me! Here we go: Skill requirement for a POS and compression array: Anchoring 1.

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Gabriel Rova
Distant Light Syndicate
#16 - 2014-09-19 22:40:38 UTC
Right now, setting up a pos is expensive in fuel costs and a PIA if you have to online and offline it just to compress ore. If your a lone miner it doesn't seem financially feasible.
Ekaterina 'Ghetto' Thurn
Department 10
#17 - 2014-09-20 00:09:45 UTC
Tzar Sinak wrote:
Some one please correct me! Here we go: Skill requirement for a POS and compression array: Anchoring 1.


I believe you are correct sir. Smile You will also need the corporation roles 'Config Starbase Equipment' & 'Starbase Fuel Technician'.

When you go to anchor your array at the POS you will be 'given' a green cube and a six arrow movement method to place the array where you wish. Once the green cube is in the correct position right click the right movement arrow to reveal the anchor tab which must be clicked. The array will then be anchored. That one caught me out first time. Lol

" They're gonna feel pretty stupid when they find out. " Rick. " Find out what ? " Abraham. " They're screwing with the wrong people. " Rick. Season four.   ' The Walking Dead. ' .

Ekaterina 'Ghetto' Thurn
Department 10
#18 - 2014-09-20 00:38:24 UTC
Gabriel Rova wrote:
Right now, setting up a pos is expensive in fuel costs and a PIA if you have to online and offline it just to compress ore. If your a lone miner it doesn't seem financially feasible.


I love reading disinformation but it does make me giggle. Big smile

First of all I will say EVE Online is still a sandbox and you can play the game however you want to and in a way that is fun for you. Whether you offer unrefined ore, minerals, or compressed ore it will invariably find a buyer wherever you base your operation. Compressed ore is 'flavour of the month' as it provides many advantages to all buyers and users except for maybe those who do not have 'perfect' refine.

I am probably damaging other peoples business by saying this but using a POS purely to compress ore is not that much of a 'PIA' to do. Also in terms of infrastructure & fuel costs it is not particularly expensive and is indeed financially feasible. Plus presuming you are not 'MIMAF' ( I despise those *******! - oops sorry. Oops ) you can add the time cost of compressing to the sale price of the compressed ore. If you are lazy you will probably get change from 100 million ISK when buying a small tower & compression array. Or you can partially make the infrastructure yourself and save some ISK. 160,000 ISK plus a charter to run the tower for an hour will allow you to compress a LOT of ore if you have access to a freighter.

I can see now from my paragraph above that really new miners would find the above difficult & say " A hundred million ISKAttention" . But for someone who is skilled up and has been playing for a little while and maybe is in a player corp with trustworthy corpies running a compression POS is entirely feasible in terms of logistics and ISK cost. But you don't have to do it if don't want to. Smile

Don't be bullied - it's a sandbox.

" They're gonna feel pretty stupid when they find out. " Rick. " Find out what ? " Abraham. " They're screwing with the wrong people. " Rick. Season four.   ' The Walking Dead. ' .

Ekaterina 'Ghetto' Thurn
Department 10
#19 - 2014-09-20 00:53:09 UTC
Steve Ronuken wrote:
Styth spiting wrote:
Before the last expansion it was never a question. You always refined.

Now you need to look at compressed ore prices and determine if it is better to refine or to compress. Minerals will either stay in highsec or compressed ores will be moved to nullsec. I haven't looked at prices for a while now but I would be very surprised if compressed veldspar did not sell at a higher price then the refined trit. Because trit is always in high demand for capital production I would be surprised if the demand for trit hasn't decreased but the demand for compressed ores being in higher demand.


The demand for Trit has indeed dropped. From 20 to 30 billion units per day, to 10ish. The price has also fallen. On the other hand, Ore prices have risen. So the tables which don't also display the ore prices (I need to update mine) aren't showing the whole picture.

https://www.fuzzwork.co.uk/market/marketdisplay.php?typeid=34&regionid=10000002

(copy and paste. it doesn't work right otherwise)


Edit: B for billion.


The price of Tritanium obviously had to fall after the launch of Crius due to all the speculation & worry over the future of industry. No doubt many people made a pretty penny out of the price rise. The price of Tritanium is still good now and there still a healthy demand for it. 25.6 million ISK per hour for mining Veldspar isn't bad for a days work. Someone else mentioned Scordite but at a bit over 19 million ISK per hour that isn't as good atm.

I had a bit of a look at the prices for compressed ore and they are a bit high atm even allowing for additional reasonable charges on top of mineral value. This is obviously due to supply & demand - everyone wants to wear the new dress in the window. Smile

" They're gonna feel pretty stupid when they find out. " Rick. " Find out what ? " Abraham. " They're screwing with the wrong people. " Rick. Season four.   ' The Walking Dead. ' .

Steve Ronuken
Fuzzwork Enterprises
Vote Steve Ronuken for CSM
#20 - 2014-09-20 16:01:00 UTC
Ekaterina 'Ghetto' Thurn wrote:
Steve Ronuken wrote:
Styth spiting wrote:
Before the last expansion it was never a question. You always refined.

Now you need to look at compressed ore prices and determine if it is better to refine or to compress. Minerals will either stay in highsec or compressed ores will be moved to nullsec. I haven't looked at prices for a while now but I would be very surprised if compressed veldspar did not sell at a higher price then the refined trit. Because trit is always in high demand for capital production I would be surprised if the demand for trit hasn't decreased but the demand for compressed ores being in higher demand.


The demand for Trit has indeed dropped. From 20 to 30 billion units per day, to 10ish. The price has also fallen. On the other hand, Ore prices have risen. So the tables which don't also display the ore prices (I need to update mine) aren't showing the whole picture.

https://www.fuzzwork.co.uk/market/marketdisplay.php?typeid=34&regionid=10000002

(copy and paste. it doesn't work right otherwise)


Edit: B for billion.


The price of Tritanium obviously had to fall after the launch of Crius due to all the speculation & worry over the future of industry. No doubt many people made a pretty penny out of the price rise. The price of Tritanium is still good now and there still a healthy demand for it. 25.6 million ISK per hour for mining Veldspar isn't bad for a days work. Someone else mentioned Scordite but at a bit over 19 million ISK per hour that isn't as good atm.

I had a bit of a look at the prices for compressed ore and they are a bit high atm even allowing for additional reasonable charges on top of mineral value. This is obviously due to supply & demand - everyone wants to wear the new dress in the window. Smile



The demand for compressed ore isn't being met by the supply Smile The demand comes from people who are manufacturing things out in nullsec/lowsec, and need vast quantities of Trit. It used to be that they used 425mm Railgun Is to move it, so they could just buy the trit and manufacture. Now, if ore is refined, it's impossible to compress the results. Takes a lot of Trit to build a Dread, let alone a titan.

Woo! CSM XI!

Fuzzwork Enterprises

Twitter: @fuzzysteve on Twitter

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