My girlfriend told me that there was an article in the papers recently about some Taiwan government retirees who used to work for the branch of government that handled iron and steel. A few of them teamed up and started brokering deals selling iron to China – which has been on a building spree for Lord knows how long
Can you help me find that article in the Chinese newspaper?
Do you have insight or advice about brokering this type of transaction to buyers in China?
One of my friends does so.
Words of caution are needed:
You need to get your own supply sorted out, there are many people trying to trick people to open an LC, ask for a 2% performance guarantee.
chinese are famous for not opening LC’s, so you might piss a few genuine suppliers off by first promising them a good customer, then not being able to take the ore off their hands.
Use transferrable LC’s if at all possible, back to back lc’s are more expensive. (I use back to back LC’s in my own dealings, but that’s an altogether different product).