Posted on 21/10/2008 in category Ferrous

Currentsituation on the international scrapmarkets:
BIR
expresses concernregarding unprofessional andunethical business practices

The overall economic and financial crisis hasnot spared the international recycling industry. Moreover, thesituation is worsened by the unprofessional behaviour of some buyerswho completely ignore the terms of the contracts they signed some weeksago with their sellers.

Since prices have dropped dramatically, somebuyers fail to pay their invoices or request substantial discounts,although they are legally bound by the prices fixed in their contracts.This unprofessional and unethical business behaviour seems to havemushroomed throughout the international recycling community and iscausing serious financial difficulties for many sellers.

BIR is currentlyinvestigating steps that membercompanies can take to avoid these situations. The BIR arbitrationservice isalso at their disposal.

This importanttopic will be one of the main items on the agenda of the BIRInternational TradeCouncil which is planning to have a high level discussion involving alldivisional Presidents in Düsseldorf next week.