Semi-Finished

A semi-finished product, or semi-fabricated product, is any intermediate material used for easier transport, storage, or further processing in metalworking and refining. In the precious metals industry, bullion bars are a typical example of a semi-finished product.

Unlike raw ores or granulated silver and gold, which are not practical for logistics or direct industrial use, bullion bars are cast or minted into standardized shapes and weights, making them suitable for both investment and industrial applications. Finished goods, such as jewelry or coins, and unprocessed materials, like gold ore or scrap metal, do not fall under the category of semi-finished products. The classification is crucial for supply chains, customs processing, and the valuation of metal inventories.