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Trade Learning

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Trade Learning Program

Trading Acronym Terms used in Trading ASWP – This acronym stands for ‘Any Safe World Port
. It is quite common for sugar sellers to offer delivery to any safe world port of the buyer’s choice.


BG – An acronym standing for ‘Bank Guarantee'
which is a financial instrument issued by a bank on behalf of their customer for the benefit of another party to whom the bank’s customer has a contracted financial obligation. In the event that the bank’s client does not make payment on a contract, the beneficiary of the bank guarantee can draw on the bank guarantee and receive payment.


BG 
100% Payable Instrument – This is a type of bank guarantee which meets several conditions. It must be issued or guaranteed by a top 25 world bank, be irrevocable, confirmed, and transferable. It must also cover the entire amount of the contract, and be payable on sight upon presentation of authentic shipping documents.


Bill of Lading (B/L)
- A bill of lading is a contract which defines the terms of carriage for a shipment. This contract is set out by the carrier and issued to the exporter (the seller) when the shipment has been received and loaded aboard the vessel. The bill of lading is an essential document, as it proves that sugar was indeed shipped, and that a carrier has taken responsibility for ensuring delivery to the buyer. In order to claim payment for the shipment using a letter of credit, the seller will invariably have to present the bill of lading at either the confirming or issuing bank.


BCL
– An acronym standing for ‘Bank Comfort Letter‘. A bank comfort letter is a letter issued from the buyer’s bank to the seller. This letter states that the buyer has sufficient funds to cover the cost of the order. A bank comfort letter is one of the first pieces of documentation that a prospective buyer must provide to a seller in order to negotiate a deal. It is does not, however, constitute an agreement to pay the seller anything, nor does it make the bank liable in any fashion.


CAD
– This acronym stands for ‘Cash Against Documents‘, and is indicative of a type of sale where title documents are only transferred when payment is made.


CIA
– This acronym stands for ‘Cash In Advance‘, which is a type of sale in which the full amount of the purchase price of an order must be paid upfront. This is not standard procedure in the sugar trading industry, and it is not advised that any buyer pays upfront for sugar that has not yet been shipped.

CIF
– ‘Cost Insured Freight‘. Cost insured freight is part of the standard deal for most sugar traders. This means that the seller bears the cost of both shipping and insuring the sugar until it reaches the destination port.


Commodities Exchange
– This is an association which governs the rules of trading in a jurisdiction. Being familiar with the guidelines of the commodities exchange in the jurisdictions in which you are doing business is always advised.


Commodity Futures Contract
– Often used for sugar futures trading, a commodity futures contract is a contract which details an agreement for the sale of as yet unproduced sugar at a future date. These contracts are very common in the sugar industry, as buyers often need to secure ongoing supplies of sugar for their own production lines. These contracts are also useful for avoiding potential future surges in price, but can be problematic if world sugar prices drop considerably, in which case the buyer may find themselves paying well above market value for sugar.


Confirming Bank
– A confirming bank is a bank which agrees to honor a letter of credit issued by another bank.


CPR
– Stands for ‘Cédula de Produto Rural‘, which can be translated to ‘Agricultural Product Certificate.’ These certificates are issued by the Brazilian government and offer discounts on large purchases of sugar. This allows the buyer to secure sugar for a specified period at a low rate, and the Brazilian government to quickly raise capital.


CPR- F
– These ‘Cédula de Produto Rural’ certificates relate to future sugar which has yet to be produced.


CPR -X
– These ‘Cédula de Produto Rural’ certificates relate to sugar which has already been produced.


CWO – ‘Cash With Order
. In a cash with order situation, the buyer makes payment at the time of the order, and the seller is legally obligated to fulfill the order. This is not a common payment arrangement in the international sugar trading industry.


DC – ‘Draft Contract‘
. A draft contract is an initial contract which is drawn up and sent from the seller to the buyer. The buyer has the opportunity to make amendments and send it back to the seller for consideration. This process continues until both parties are satisfied with the terms of the contract.


Deed of Assignment
– This is a document relating to of a letter of credit in which the beneficiary may assign all or a portion of the proceeds of the letter of credit to a third party.


FFSBLC
– ‘Fully Funded Standby Letter of Credit‘. This document is a standby letter of credit which covers the entire amount of the order, is payable on sight if the correct documentation is presented alongside it, and is irrevocable, transferable, confirmed, and issued or guaranteed by a Top 25 world bank.


FFRDLC
– ‘Fully Funded Documentary Letter of Credit‘. This is a letter of credit which revolves to cover several shipments of sugar. Especially in instances where large amounts of sugar are purchased, it is quite common for the sugar to be shipped in several installments over a period of months. The revolving documentary letter of credit is made out for the full amount of one of these shipments, but can be drawn upon multiple times in accordance with the terms of the contract. These terms will also be stated in the revolving letter of credit. These letters of credit must also be transferable, confirmed, and irrevocable.


FCO
– ‘Full Corporate Offer‘. Issued by the seller after the preliminary stages of negotiation are complete, such as a letter of intent having been issued by the buyer, and a soft probe having been conducted on their accounts by the seller. A full corporate offer is a document which outlines the conditions of the sale.


FOB
– ‘Free On Board.’ If the terms of a trade are ‘FOB’, then the seller is obligated to have the sugar delivered to a port of the buyer’s choosing on board a ship that is also of the buyer’s choosing.


Formal Contract
– When the negotiation stages of the draft contract are complete and both parties are satisfied, then a formal contract is drawn up and signed by both parties.


ICPO
– ‘Irrevocable Corporate Purchase Order‘. This is a document drawn up by commercial buyers, and contains the quantities of sugar required, the type of sugar required, and other conditions that the buyer would like the sale to proceed under. Once submitted to the seller, this is deemed to be binding and the corporation is obliged to complete the sale.


ICPO
With Banking Coordinates – This is an ICPO which includes the company’s bank details in order for the seller to conduct a soft probe on their accounts in order for the seller to satisfy himself that there are sufficient funds in place to cover the cost of the sugar..


ICUMSA
– ‘International Commission for Uniform Methods of Sugar Analysis ‘ This is an international body that regulates and standardizes sugar testing processes. It is also used to refer to various grades of sugar, such as ‘ICUMSA 45′ for instance.


ILOC
– ‘Irrevocable Letter of Credit‘ An irrevocable letter of credit is a document issued from the buyer’s bank to the seller which guarantees payment upon the presentation of stipulated documentation. As an irrevocable document, it cannot be canceled, and the buyer’s bank is legally obligated to make payment at such time as the beneficiary fulfills the terms set out in the letter of credit.


Irrevocable Confirmed Letter of Credit
– An irrevocable confirmed letter of credit which is confirmed by another bank, normally one in the beneficiary’s jurisdiction. A confirming bank is one which undertakes to make payment on the letter of credit on behalf of the issuing bank at such time as the beneficiary meets the terms and conditions outlined in the letter of credit.


Issuing Bank
– The issuing bank is the buyer’s bank which issues bank guarantees and letters of credit on behalf of their client.


LC/LOC
– ‘Letter of Credit‘ These acronyms are commonly used when referring to letters of credit. Letters of credit are documents issued from the buyer’s bank to the seller which guarantee payment to the beneficiary of the letter of credit (the seller), as long as the terms and conditions set out in the letter of credit are met. This generally means presenting stipulated documentation to a confirming bank within a set time frame.


LOI
– ‘Letter Of Intent‘. A letter of intent is a document issued from the buyer to the seller which indicates that the buyer would like to enter into negotiations with the seller in the hope of purchasing sugar. The letter of intent is not legally binding, but it does provide a starting point for negotiations.


MOQ
– ‘Minimum Order Quantity‘. This is often expressed by sellers who have a minimum amount of sugar that they are prepared to sell in any one shipment. Smaller quantities do not represent sufficient profit margins to be worth the effort that the seller must go to in preparing sugar for shipment.


Ocean Bill of Lading
– Another term for bill of lading, referring to transportation which is undertaken via ship. For further information, refer to ‘Bill of Lading’.


POF
– ‘Proof of Funds‘. Usually proof of funds is obtained by conducting a soft probe on the buyer’s accounts. Proof of funds is normally required by a seller before they will proceed with negotiating a sugar sale.


PB
– Performance Bond. This is a type of bank guarantee which is issued from the seller to the buyer. It guarantees that the seller will meet the terms of the contract. Normally issued in the amount of ten to fifteen percent of the total amount of the contract, a performance bond can be drawn upon by the buyer in the event that the seller breaks the contract and fails to provide the sugar which was stipulated in the contract.


Revolving Letter of Credit
– A revolving letter of credit is a letter of credit which can be drawn upon multiple times. These financial instruments are often put in place when a seller is to make multiple shipments to a buyer, and allows the seller to claim payment for each shipment without the need for a separate letter of credit being issued for every shipment.


SBLSC
– ‘Standby Letter of Credit‘. A standby letter of credit is a letter of credit which acts as an assurance from the buyer’s bank that sufficient funds are in place to cover the entire cost of the shipment. Standby letters of credit are not normally drawn upon. If a seller wishes to have payment guaranteed by the buyer’s bank then a letter of credit is normally used.


Sight LOC
– ‘Sight Letter of Credit‘. This is a letter of credit that is payable on the sighting of both the letter of credit, and necessary documentation as stipulated in the letter of credit.


SWIFT
– ‘Society for Worldwide Interbank Financial Telecommunication‘ This is a global service which is responsible for facilitating communication between banks. Most payments are made via SWIFT.


SGS Inspection
– Before sugar leaves the port of sale, an inspection is carried out by SGS, the world’s most respected independent sugar inspection company. SGS inspections provide peace of mind for the buyer who can be assured that the sugar is of a high quality if it is cleared by SGS inspectors.


Transferable Letter of Credit
– A transferable letter of credit is a letter of credit which the beneficiary can use to assign some of the funds from the letter of credit to another party. This is common in the case of sellers paying their ultimate suppliers.


RWA
– ‘Ready willing and Able‘. This is a document which is issued by the buyers bank. The bank confirms that their client has the sufficient funds in their possession and is willing and able to engage in the contract.


Prime Bank
– top 25 worlds bank. These are trusted banks which are preferred (or in most cases even mandatory) in commodity trading.


SCRAP SPECIFICATIONS - NON-FERROUS ISRI CODES


Barley²No. 1 COPPER WIRE 
Shall consist of No. 1 bare, uncoated, unalloyed copper wire, not smaller than No. 16 B /S wire gauge. Green copper wire and hydraulically compacted material to be subject to agreement between buyer and seller.


Berry²No. 1 COPPER WIRE
Shall consist of clean, untinned, uncoated, unalloyed copper wire and cable, not smaller than No.16 B /S wire gauge, free of burnt wire which is brittle. Hydraulically briquetted copper subject to agreement.


Birch²No. 2 COPPER WIRE
Shall consist of miscellaneous, unalloyed copper wire having a nominal 96% copper content(minimum 94%) as determined by electrolytic assay. Should be free of the following. Excessively leaded, tinned, soldered copper wire; brass and bronze wire; excessive oil content, iron, and non-metallics; copper wire from burning, containing insulation; hair wire; burnt wire which is brittle; and should be reasonably free of ash. Hydraulically briquetted copper subject to agreement.


Candy²No. 1 HEAVY COPPER
Shall consist of clean, unalloyed, uncoated copper clippings, punching, bus bars, commutator segments, and wire not less than 1/16 of an inch thick, free of burnt wire which is brittle; but may include clean copper tubing. Hydraulically briquetted copper subject to agreement.


Cliff²No. 2 COPPER
Shall consist of miscellaneous, unalloyed copper scrap having a nominal 96% copper content(minimum 94%) as determined by electrolytic assay. Should be free of the following: Excessively leaded, tinned, soldered copper scrap; brasses and bronzes; excessive oil content, iron and non-metallic’s; copper tubing with other than copper connections or with sediment; copper wire from burning, contain in insulation; hair wire; burnt wire which is brittle; and should be reasonably free of ash. Hydraulically briquetted copper subject to agreement.


Clove²No. 1 COPPER WIRE NODULES
Shall consist of No. 1 bare, uncoated, unalloyed copper wire scrap nodules, chopped or shredded, free of tin, lead, zinc, aluminum, iron, other metallic impurities, insulation, and other foreign contamination. Minimum copper 99%. Gauge smaller than No. 16 B and Swire and hydraulically compacted material subject to agreement between buyer and seller.


Cobra²No. 2 COPPER WIRE NODULES
Shall consist of No. 2 unalloyed copper wire scrap nodules, chopped or shredded, minimum 97%copper. Maximum metal impurities not to exceed 0.50% aluminum and 1% each of other metals or insulation. Hydraulically compacted material subject to agreement between buyer and seller.


Cocoa²COPPER WIRE NODULES
Shall consist of unalloyed copper wire scrap nodules, chopped or shredded, minimum 99%copper. Shall be free of excessive insulation and other non-metallics. Maximum metal impuritiesas follows:Aluminum ² .05%Tin ² .25% Nickel ² .05%Antimony ² .01%Iron ² .05%Hydraulically compacted material subject to agreement between buyer and seller.


Dream²LIGHT COPPER
Shall consist of miscellaneous, unalloyed copper scrap having a nominal 92% copper content(minimum 88%) as determined byelectrolytic assay and shall consist of sheet copper, gutters, downspouts, kettles, boilers, andsimilar scrap. Should be free of the following:Burnt hair wire; copper clad; plating racks; grindings; copper wire from burning, containinginsulation; radiators, fire extinguishers;refrigerator units; electrotype shells; screening; excessively leaded, tinned, soldered scrap; brasses and bronzes; excessive oil,iron and non-metallics; and should be reasonably free of ash. Hydraulically briquetted cop-per subject to agreement. Any items excluded in this grade are also excluded in the higher gradesabove.


Drink²REFINERY BRASS
Shall contain a minimum of 61.3% copper and maximum 5% iron and to consist of brass and bronze solids and turnings, and alloyed and contaminated copper scrap. Shall be free of insulatedwire, grindings, electrotype shells and non-metallics. Hydraulically briquetted material subject toagreement.


Drove²COPPER-BEARING SCRAP
Shall consist of miscellaneous copper-containing skimmings, grindings, ashes, irony brass andcopper, residues and slags. Freeof insulated wires; copper chlorides; unprepared tangled material; large motors; pyrophoricmaterial; asbestos brake linings; furnace bottoms; high lead materials; graphite crucibles; and noxious and explosive materials. Fine powdered material by agreement. Hydraulically briquetted material subject to agreement.


Druid²INSULATED COPPER WIRE SCRAP
Shall consist of copper wire scrap with various types of insulation. To be sold on a sample or recovery basis, subject to agreement between buyer and seller.


Ebony²COMPOSITION OR RED BRASS
Shall consist of red brass scrap, valves, machinery bearings and other machinery parts, including miscellaneous castings made of copper, tin, zinc, and/or lead. Should be free of semi-red brass castings (78% to 81% copper); railroad car boxes and other similar high-lead alloys; cocks and faucets; closed water meters; gates; pot pieces; ingots and burned brass; aluminum, silicon, and manganese bronzes; iron and non-metallics. No piece to measure more than 12" over any one part or weigh over 100 lbs.


Enerv²RED BRASS COMPOSITION TURNINGS
Shall consist of turnings from red brass composition material and should be sold subject tosample or analysis.


Elder²GENUINE BABBITT-LINED BRASS BUSHINGS
Shall consist of red brass bushings and bearings from automobiles and other machinery, shallcontain not less than 12% high tin-base babbitt, and shall be free of iron-backed bearings.
Mixed grades: No delivery shall contain a mixture of grades, unless by prior agreement with the purchaser.


Grade OA Plate and structural, consisting of cut structural and plate arisings predominantly 6mm thick in sizes not exceeding 1.50m x 0.60m x 0.60m (or as otherwise agreed) prepared in a manner to ensure compact charging. May include properly prepared wagon material less than 6mm thick. Excludes tube and hollow section. 
Grade 1Old Steel, predominantly 6mm thick, in sizes not exceeding 1.50m x 0.60m x 0.60m (or as otherwise agreed) prepared in a manner to ensure compact charging. May include tube and hollow section, wire rope properly prepared by agreement with consumer, properly prepared material from heavy commercial vehicles including wheels, but excluding body and wheels from light vehicles.
Grade 2Old Steel, predominantly 3mm thick, in sizes not exceeding 1m x 0.60m x 0.60m (or as otherwise agreed) prepared in a manner to ensure compact charging. May include properly prepared material from dismantled vehicles including light vehicle wheels, but must exclude vehicle body arisings and also domestic appliances.
Grade 3AFragmentised, old light steel arisings fragmentised into pieces not exceeding 150mm in any direction. Must be free from dirt, free non-ferrous metals and foreign material and exclude excessive moisture, introduced loose cast iron, incinerator material, grindings, swarf, turnings and borings. Should also be free from tin cans. Must conform to the following specifications:• Density: 1 tonne per cubic metre minimum • Sn content: 0.03% max • Cu content: 0.20% max 
Grade 3BFragmentised, old light steel arisings fragmentised into pieces not exceeding 200mm in any direction. Must be free from dirt, free non-ferrous metals and foreign material and exclude excessive moisture, introduced loose cast iron, incinerator material, grindings, swarf, turnings and borings. Should also be free from tin cans. Must conform to the following specifications:• Density: 0.8 tonne per cubic metre minimum • Sn content: 0.03% max • Cu content: 0.25% max 
Grade 3CFragmentised, old light steel arisings fragmentised into pieces. Must be free from dirt, free non-ferrous metals and foreign material and exclude excessive moisture, introduced loose cast iron, incinerator material, grindings, swarf, turnings and borings.Should also be free from tin cans. • Density: 0.60 tonne per cubic metre 
Grade 4ANew production compressed steel sheet (less than 3mm thick) bales, in works furnace sizes, free from all coated, tinned, galvanised, enamelled and deleterious material (other than by joint agreement from a specified source). Tightly baled and free from loose material.
Grade 4CNew production compressed steel sheet (less than 6mm thick) Bales in works furnace sizes, including a proportion of coated material, but excluding tin, enamel and terne coating, stamping and forging flash, bar and billet ends and other high residual material. Tightly baled and free from loose material.
Grade 4ENew production compressed steel bales, including rod and wire, in works' furnace sizes, including a proportion of coated material but excluding tin-coated ferrous material and excluding copper washed steel wire other than by joint agreement. Tightly baled and free from loose material.
Grade 4FNew production steel strip and/or wire bobbins. In works' furnace sizes, including a proportion of coated material, but excluding tin-coated ferrous material and excluding copper washed wire other than by joint agreement. Must be securely fastened.
Grade 4GNew Production Compressed De-tinned Steel Sheet (less than 0.25mm thick) Bales in works' furnace sizes. Tightly baled and free from loose material.• Sn content 0.05% max • Cu content 0.15% max • Cr content 0.04% max • Ni content 0.02% max 
Grade 5ACompressed old light steel in works' furnace sizes. Must be free from tin coated and non-metallic material. Must not include heavy iron and steel, wire ropes, wire, fuel tanks, or tin coated materials and must not include loose or free dirt or tyres.
Grade 5BPressed and sheared old light steel. To include material emanating from press shears, consisting of pressed and sheared depolluted motor cars, white goods and old light iron and steel arisings. Must not include heavy iron and steel, wire ropes, wire, fuel tanks, or tin coated materials and must not include loose or free dirt or tyres.
Grade 5CLoose old light steel. May consist of depolluted motor cars, white goods and old light iron and steel arisings. Must not include heavy iron and steel, wire ropes, wire, fuel tanks, or tin coated materials and must not include loose or free dirt or tyres.
Grade 6AIncinerator Bales - Compressed Steel Bales consisting predominantly of tin coated steel cans processed through an incinerating plant and magnetically separated following incineration and prior to baling. Bale size and density to be jointly agreed.
Grade 6BLoose incinerated - Steel arising in loose form consisting predominantly of tin coated steel cans processed through an incinerating plant and magnetically separated following incineration.
Grade 6CNon-incinerated magnetically extracted steel cans - baled. Steel food, drinks and other domestic cans magnetically extracted from non-sorted and non-incinerated domestic waste at municipal and private waste treatment plants and materials recycling facilities. May have minor visible presence of other materials such as paper and plastics. Bale size and density to be jointly agreed.
Grade 6DNon-incinerated magnetically extracted steel cans - loose. Steel food, drinks and other domestic waste at municipal and private waste treatment plants and materials recycling facilities. May have some minor visible presence of other materials such as paper and plastics.
Grade 6EClean steel cans - baled. Steel from food, drinks and domestic aerosol cans collected from the public e.g. by can banks and door-to-door ("kerbside") collection schemes. Cans should be free from excessive contamination by other materials. Bale size and density to be jointly agreed.
Grade 6FClean steel cans - loose. Steel from wood, drinks and domestic aerosol cans, collected from the public e.g. by can banks and door-to-door ("kerbside") collection schemes. Cans should be free from excessive contamination from other materials.
Grade 7AHeavy Carbon Steel Turnings. Crushed or naturally short, shovel able, excluding bushy or heavily oxidized turnings, free non-ferrous metals, scale, grinding dust, or other materials from chemical industries and free from excessive oil.
Grade 7BHeavy Carbon Steel Turnings. The majority crushed or naturally short, but with up to 20% bushy content permissible (by volume as determined by visual examination) not shovellable, excluding free non-ferrous metals, scale, grinding dust, heavily oxidized turnings or other materials from chemical industries, and free from excessive oil.
Grade 8ANew Loose Light Steel Cuttings. Suitable for pressing, free from coated, tinned, enameled and all deleterious material (other than by joint agreement from a specified source). May include galvanized steel (although the proportion may be limited by joint agreement).
Grade 8BLoose Light Steel Cuttings suitable for pressing. May include an agreed proportion of coated material, but excluding tin coated, terne coated and enamelled material.
Grade 9AHeavy Cast Iron. Not less than 13mm thick, in works' furnace sizes, free from burnt metal.
Grade 9BCylinder Block. Low phosphorus iron, usually arising from the dismantling of vehicles and commonly known as cylinder block arisings (including the cylinder block head). Gearboxes containing gears to be discarded. Gearboxes stripped of gears may be included. Steel crankshafts, connecting rods, aluminium pistons and all other aluminium components to be removed.
Grade 9COil Free New Production or Burnt Cylinder Block. Low phosphorus iron. Cylinder block heads and stripped gearboxes may be included if oil free and all steel, alloy and non-ferrous components are removed.
Grade 10Light cast iron. In works' furnace sizes, free from burnt metal.
Grade 11AClean Cast Iron or Malleable Iron Borings and Drillings, free from steel turnings, scale, lumps and excessive oil.
Grade 11BBriquetted Cast Iron Borings, free from corroded lumps and excessive cutting fluids.
Grade 12ANew Production Heavy Steel, excluding forging, flashings and stampings, predominantly 6mm thick in sizes not exceeding 1.50m x 0.60m x 0.60m (or as otherwise agreed) prepared in a manner to ensure compact charging, may include tube and hollow section with a wall thickness of not less than 6mm and a maximum overall outside diameter or wall to wall outside measurement of 50mm.
Grade 12CNew Production Heavy Steel, predominantly 3mm thick in sizes not exceeding 0.60m x 0.60m x 0.60m, or as otherwise agreed, prepared in a manner to ensure compact charging. May include tube and hollow section, new vehicle wheels, forging flashings and stampings.
Grade 12DNew Production Clean Shovellable Steel, in sizes not exceeding 150mm in any direction. May include new factory sheet clippings, punchings and stampings.


Standard classifications for aluminium scrap:-Issued jointly by the Association of Light Alloy Refiners and the British Secondary Metals Association.


Section One Full specification
Acorn: aluminium cast Shall consist of whole or broken commercial quality aluminium alloy castings. It must be free from brass and iron and commercially free from any other foreign matter, but may contain up to 3% of oil, grease and paint combined.
Adder: aluminium crank cases Shall consist of whole or broken aluminium alloy crank cases, gearboxes and oil sumps. It must be free from brass and iron and commercially free from any other foreign matter, but may contain up to 3% of oil and grease combined.
Bears: Aluminium cuttings, new Shall consist of clean new commercially pure aluminium (group 1) sheet cuttings; may contain up to 10% of commercially pure aluminium wire and tube. It must be free from foil, cast attachments, iron and any other foreign matter.
Beast: Aluminium, old rolled Shall consist of clean old aluminium (group 1) sheet, tube or utensils, free from heavily painted and excessively oxidised material. It must be free from cast attachments and iron and commercially free from any other foreign matter.
Foals: Aluminium alloy borings and turnings, mixed Shall consist of uncorroded aluminium alloy borings and turnings of more than one alloy group and be commercially free from foreign matter. Free iron shall not exceed 2% and fines below 20-mesh shall not exceed 3%. The combined free iron, fines, moisture and oil contents shall not exceed 20%.
Foxes: Aluminium alloy borings and turnings, segregated Shall consist of uncorroded aluminium alloy borings and turnings of one specified alloy group only and be commercially free from foreign matter. Free iron shall not exceed 2% and fines below 20-mesh shall not exceed 3%. The combined free iron, fines, moisture, and oil contents shall not exceed 10%.
Weeds: Aluminium alloy sheet cuttings and solids, new mixed Shall consist of new clean aluminium alloy sheet cuttings and scrap of more than one alloy group and shall be free from foil, fine wire, castings, punchings of less than 1.27cm (ýin) in diameter and from iron and other foreign matter.
Hound: Aluminium alloy sheet cuttings and solids, new segregated Shall consist of new clean aluminium alloy sheet cuttings and scrap of one specified alloy group only and shall be free from foil, fine wire, castings, punchings of less than 1.27cm (ýin) in diameter and from iron and other foreign matter.
Plums: Aluminium alloy sheets and solids, old mixed Shall consist of clean old aluminium alloy sheet and scrap of more than one alloy group; free from heavily painted and excessively oxidised material. It must be free from foil, fine wire, castings, punchings of less than 1.27cm (ýin) in diameter and commercially free from iron and other foreign matter.
Lambs: Aluminium alloy sheet and solids, old segregated Shall consist of clean old aluminium alloy sheet and scrap of one specified alloy group only; free from heavily painted and excessively oxidised material. It must be free from foil, fine wire, castings, punchings of less than 1.27cm (ýin) in diameter and commercially free from iron and other foreign matter. Section three Code words only
Hawks: Aluminium alloy forgings and extrusions, new
Hazel: Aluminium alloy forgings and extrusions, old
Horse: Aluminium alloy pistons
Darks: Aluminium foil, new
Lions: Unalloyed aluminium wire and cable, new
Limes: Unalloyed aluminium wire and cable, new
Macaw: Unalloyed aluminium wire and cable, old


Non-Ferrous Scrap Metals Specifications :Standard Classification for non-ferrous scrap metals as issued by the British Metals Recycling Association


Section One: Grades for which full specifications can be given.
Section Two: Grades which should be sold on the basis of description, sample or assay.
Section Three: Grades for which code words only are given.
Section One: Full Specifications
Beech 5: Brass, heavy yellow May consist of heavy yellow brass castings and rod scrap in crucible size pieces. It may contain up to 15% of plated and soldered material. It must be free from manganese, aluminium, silicon and nickel mixtures, condenser tubes and iron and commercially free from any other foreign matter.
Birds 6: Brass, light May consist of all kinds of brass excluded from any of the other brass categories, but excluding perished sheathing, sweated radiator brass, and aluminium and manganese mixtures. It must be free from iron and commercially free from any other foreign matter.
Bison 7: Brass old rolled Shall consist of old rolled sheet brass free from ships Õ sheathing. It must be free from tinned, soldered, and plated material and iron and commercially free from any other foreign matter.
Boars 8: Brass rod ends, new Shall consist of new extruded brass rod ends and other new process scrap of similar composition and must be free form manganese and aluminium mixtures, iron and any other foreign matter. It must be in crucible size pieces.
Bream 9: Brass rod swarf No 1Shall consist only of swarf from brass rod, free from manganese and aluminium mixtures, free from aluminium gunmetal and any other foreign matter. It may contain up to 4% iron and moisture combined.
Bucks 10: Brass sheet cuttings, new Shall consist of cuttings and stampings from new soft brass sheet or strip containing not less than 61.5% of copper and not more than 0.3% of lead. It must be free from punchings, tinned and plated material, iron and any other foreign matter.
Bulls 11: Brass tube, cut up Shall consist of drawn brass chandelier or similar quality scrap, free from cast brass, extruded tubes, condenser tubes, tinned, plated and soldered material and iron and must be commercially free from any other foreign matter.
Camel 12: Copper, braziery Shall consist of soldered, tinned and brazed copper and may contain copper vat wire. It may contain up to 5% of brass or gunmetal attachments. It must be free from electrotype shells, back boilers and iron and commercially free from any other foreign matter.
Capon 13: Copper cuttings Shall consist of clean new untinned copper sheet cuttings of various gauges. It must be free from soldered and plated material, iron and any other foreign matter.
Carps 14: Copper hair wire, tinned Shall consist of clean unburnt tinned copper hair wire free from tin/lead alloy coated copper wire. It must be free from iron and any other foreign matter.
Chick 15: Copper hair wire, untinned Shall consist of clean unburnt copper hair wire, free from enamelled wire. It must be free from iron and any other foreign matter.
Chimp 16: Copper heavyShall consist of crucible size clean untinned copper not less than a thickness of 1/16in such as cut-up pipe, tubing and sheet. It must be free from brazed, soldered and plated material and iron and com mercially free from any other foreign matter.
Clams 18: Copper wire, bright tinned Shall consist of clean bright unburnt tinned HC copper wire free from hair wire. It must be free from iron and any other foreign matter.
Chows 17: Copper light Shall consist of collected clean old copper sheet and tube scrap, free from tinned, brazed, soldered and plated material, perished and brittle copper and iron and commercially free from any other foreign matter.
Clams 18: Copper wire, bright tinned Shall consist of clean bright unburnt HC copper wire not thinner than 22 gauge. It must be free from iron and any other foreign matter.
Colts 20: Copper wire No 1Shall consist of clean untinned HC copper wire not thinner than 22 gauge, free from hard wire, brittle burnt wire and iron and commercially free from any other foreign matter.
Corgi 21: Copper wire No 2Shall consist of copper wire such as burnt tinned wire and may contain a percentage of unburnt tinned and soldered wire. It must be free from hair wire, vat wire, burnt wire which is brittle, iron and commercially free from any other foreign matter.
Crows 22: Gunmetal Shall consist of all classes of gunmetal in crucible size pieces, to be free from excessively leady material. It must be free from iron and commercially free from any other foreign matter.
Daisy 23: Lead, battery grade 'A' Shall consist of lead accumulator plates with lugs and bridges. It must be free from iron and commercially free from any other foreign matter.
Doves 24: Lead, battery grade 'B' Shall consist of lead accumulator plates without lugs and bridges. it must be free from iron and commercially free from any other foreign matter.
Drake 25: Lead, old Shall be free from battery lead, iron, brass, copper and other metals. It must be reasonably free from hard lead, dirt and any other foreign matter.
Drone 26: Nickel silver scrap May consist of all kinds of collected nickel silver scrap, including soldered and plated. It must be free from iron and commercially free from any other foreign matter.
Ferns 27: Spelter, hard Shall consist of unsweated and unburnt hard zinc as produced by galvanisers in lumps or slabs and must be free from fine material and iron. No piece to exceed 100lb in weight.
Finch 28: Zinc, old Shall be free from diecast alloys. it must be free from iron, tar and excessively oxidised material and reasonable free from dirt and any other foreign matter.
Section TwoShort descriptions. To avoid disputes, these grades should be sold on the basis of their description, sample or assay.
Frogs 31: Brass borings, mixed May consist of any kind of brass borings and turnings. They may be slightly contaminated with aluminium and gunmetal borings and may contain up to a maximum of 10% in all of manganese and aluminium mixture borings. Iron and moisture contents combined should not exceed 5%.
Grain 32: Brass condenser tubesShould be reasonably free from scale and free from tinned, plated and perished tubes and iron.
Grass 33: Brass turnings, yellowShould be free from aluminium, manganese and any other admixture. Iron and moisture contents combined should not exceed 3%.
Bulls 34: Brass turnings, yellowShould be free from aluminium, manganese and any other admixture. Iron and moisture contents combined should not exceed 3%.
Gulls 34: Gunmetal boringsShould be free from grindings, excessively leady material and aluminium, manganese and silicon mixtures and commercially free from brass. Iron and moisture contents combined should not exceed 3%.
Hares 35: Manganese bronze castingsShould be free from aluminium bronze, silicon bronze, iron and any other foreign matter.
Minks 45: Magnesium alloy castings
Moths 46: Magnesium alloy borings and turnings
Mouse 47: Nickel and anodes, pure
Newts 48: Radiator blocks, unsweated brass
Onion 49: Radiator blocks, unsweated brass and copper
Otter 50: Radiator blocks, unsweated copper
Panda 51: Zinc alloy diecastings, new
Panda 51: Zinc alloy diecastings, old
Prawn 53: Zinc sheet cuttings, new
Quail 54: Cupro nickel, new


In the form of cuttings, rod, tube etc


Roach 55: Cupro nickel, old
Robin 56: Monel metal 'K' new
Rooks 57: Monel metal 'K' old
Sable 58: Monel metal 'K' soldered
Seals 59: Monel metal, new
Sheep 60: Monel metal, old
Snail 61: Monel metal, old
Snipe 62: Nickel, pure new


Borings-Turnings


Sprat 63: Nickel, pure old
Stork 64: Nickel, silver, new
Tiger 65: Cupro nickel
Trout 66: Monel metal 'K'
Viper 67: Monel metal
Vixen 68: Nickel, pure
Whale 69: Nickel silver

About -
Norstar Unlimited

We are known as "Trade Facilitators" We review how procedures and controls governing the movement of goods across international borders can be improved to reduce associated cost burdens, maximize efficiency.

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