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Steel scraps targeted by non-ferrous fraudsters

Fraudsters are deceiving non-ferrous traders with fake deals across the globe, the Bureau of International Recycling (BIR) has said.

BIR’s International Trade Council chairman Robert Voss said that copper, aluminium, and steel have been targets for dodgy deliveries, where “supposedly reliable suppliers have comprised nothing but concrete, ash, mud and dirt”.

Writing in the BIR’s September edition of World Mirror, Voss said: “The only insurance that we as traders can take out is to know the identity and practices of who is supplying the metal to which we put our name.”

The message was reinforced by Robert Stein, president of US Alter Trading’s non-ferrous metal division: “We often pay for goods before we ever see them, a time-honoured methodology that seems to work in our trade.”

Voss advised BIR members to visit new suppliers and watch them load containers and being taken to port to avoid being caught out.

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