Hi! I am Ray and I need some advice.

I am Ray living in CA and I have scrap metal buyers from India & China interested in buying hms1 and hms2. I am new to this business and would like to know how to start.

We've had a few of them come on here banging their little drums but they didn't stick around long. If you don't have a few years in heavy metal, I'd run away from them as fast as you can. They'll take you for a ride and it won't be a good one,,, just my opinion.

if you are being solicited from overseas buyers and you are not even in the business... its called a scam

Its referred to as "low hanging fruit"

It sounds to me like you want to be a broker. You want to buy a product cheaply, using a paper-based transaction and then arrange transport for it to India or China, where you will be paid three times the price you outlaid. Payment will be prompt, and the work will be easy. You will have people queing up to sell you metal, and other people ripping your arm off for it.

That's the theory. In reality you are going to get bent over a big piece of hms1 pipe while some bloke called Gupta sizes you up. And did I mention he is the cousin of the guy that sold you the product in the first place? It works out well for them because they end up with your money and your product.

Run away from this. Save yourself a lot of heart ache down the line. Seriously.

You ask how to start. Yet you know these international shippers and have no experience.

That is like trying to open a upscale restaurant because you know a hostess.

You ask how to start. From the bottom and work your way. Finding clients and selling scrap small scale is a good start.
One can not just expect to wake up one day and think they will find connections and be a big timer with out a lot of leg work.

Experience comes with time and hard work.

Good luck!

Originally Posted by Ibuyscrap

My buyer would like to deal with an LC. Who do I get my commission from? Buyer or seller and how?

LC stands for Limited Company? LC is a British designation for LLC in the US. I don't know as there are currently any international traders on here. This might be a really tough start for someone with no experience or contacts. Any idea of what they want for minimum monthly shipments? As far as setting up an LLC, you can do that online. How to get your commission?
That's pretty basic. I think you'll want to do some independent research before you get started. You'll also need to be licensed as a Broker.

It appears to me that you don't possess enough knowledge to work out where the money is coming from, let alone the metal.

This is a fool's errand.

Originally Posted by Ibuyscrap

Where can I find this kind of scrap metal? My buyer would like to deal with an LC. Who do I get my commission from? Buyer or seller and how? :confused: I would greatly appreciate any info or help I can get from anyone with experience in International business.

Thanks in Advance

You can't enough of that metal here and you should have worked commission deals with them while they were there. You have no clue what you are doing. Just start scrapping yourself.......... you'll make more money doing that than going around and asking everyone where to get what you need, if you were serious about this you would have asked the buyers more questions yourself. Like "Please, sirs, where does one get this kind of metal in the quantities you need". delete the email you got and forget about them, your going to get screwed......... and I bet your name isn't Ray........

One of the favorite lines we used to toss around the job site was, "Last week I couldn't spell carpenter, this week I is one."

Originally Posted by Ibuyscrap

The buyers were here in CA n i met them through some common friends.They were looking for scrap metal.Now they have gone back to their country,they wanted some one reliable to source out scrap metal for them.They want to operate on a LC.So that is why i'm here.

I am having a very hard time believing you.

The way you are coming off, is even if you did meet these "buyers" through some common friends, they informed you that they were buyers for scrap metal, and would pay you for brokering deals for them. Then all of a sudden you saw the $$$$ signs everywhere.

The easiest way for you to do what your looking to do, is find out what they are willing to pay, then start figuring up your costs, etc.

From there, contact any scrap yard you can find, and let them know you are a broker for some buyers in China or wherever they are from.

However, you better be sure you know what you are doing. One false move, and it could end your little career real quick.

I would take everyone's advice, since you don't have a clue and start small.