(finance) The refined form of a commodity, as opposed to its raw or generic form.

simple past and past participle of refine

Precise, subtle, and developed, the adjective "refined" describes people as sagacious, thoughts as carefully thought out, and processes as improved.

An adjective "refined" describes something or someone that is cultured, elevated and polished in language, and elegant, although it can sometimes be seen as affected, prissy, or bloodless when describing people.

Purified, highly-processed and pure, free of impurities or alloy, and morally pure (in obsolete usage).

(of a market) Dealing in a refined product such as sugar or petroleum.