METAL THEFT: Scrap market split on cashless payment plan

Dec 05, 2011 | 06:10 AM |

The proposal to ban the use of cash for scrap metal purchases has been attacked by many that are still involved in the “door trade”, under which sellers may just turn up at the scrapyard gates with material to sell. Sources polled by Metal Bulletin are broadly in agreement with MP Graham Jones’ proposed private member's bill, but the issue of cashless payment is a sticking point. “The cashless system would just drive things underground,” one alloys producer and scrap buyer said. “In the system we’re operating at the moment, we work closely with police and transport authorities; we take registered identification for all sellers; and....

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