China seen cracking down on scrap resellers
Aug 14, 2013 | 03:06 PM
| Nathan Laliberte
NEW YORK Chinese nonferrous scrap importers with licenses from Chinas General Administration for Quality Supervision, Inspection and Quarantine (AQSIQ) have been trading significant quantities of metal to unlicensed scrapyards in the country, according to exporters.
Customs officials and AQSIQ representatives are aware of the issue and may be planning to curb trading between scrapyards, one U.S. exporter told AMM.
"I have also been led to believe that some scrapyard owners are leaving the country in anticipation of investigations from the Chinese government," he said, noting that many of the trades are completed on a cash basis to avoid taxes. "If the government decides to take a closer look into these dealings, I think a lot of people will be in trouble."....
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