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....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here