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Chinese indium industry claims progress in smuggling clampdown
August 24, 2010 - 05:42 GMT
Location:
Shanghai
KEYWORDS:
China
,
minor metals
Stricter rules introduced by Chinese customs have seen 900kg of refined indium seized in the latest moves against indium smuggling, industry sources told MB.
The material was held during customs supervision on its way from a local port to a destination outside mainland China, but no one has claimed ownership of the material, fearing a strict penalty.
Some qualified Chinese exporters, with quotas granted by China’s ministry of commerce, are receiving more enquiries this week, suggesting some buyers have stopped using smuggled material due to stricter customs supervision, sources said.
"I’ve heard from my counterparts around 900kg of smuggled indium was detained...
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Euromoney Institutional Investor PLC.
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