What is Non-Ferrous Metals Finance?
Non-ferrous Metals Finance
Key non-ferrous metal products include:
- Gilding metal
- Aluminium alloys (Duraluminium)
When a business wants to trade internationally, the exporter would typically want to be paid up front by the importer. The bank would issue a Letter of Credit, which guarantees this payment to the exporter upon receipt of documentary proof that the goods have been shipped. This is then repaid once the importer has paid for the goods, which could be anything between 30-180 days later.
What is the SIC Code for Non-ferrous Metals Finance ?
The SIC Code is 24450 (Other non-ferrous metal production)
Other SIC Codes that could also be used are:
- 07290 Mining of other non-ferrous metal ores
- 24540Casting of other non-ferrous metals
A growing bauxite mining company that works with buyers from around the world was facing increasing orders. The company focused on buyers in England, but was moving into new markets. The client was looking for finance in order to fund the expansion and so turned to trade finance in order to do so. Access to funding has allowed the company to expand and move into Europe and North America.