Unveiling the Common Characteristics of Chinese Steel Suppliers’ Fraud

Fraud in the Chinese steel industry is on the rise, with suppliers using tactics like low-price traps, offshore accounts, and Non-Resident Accounts (NRA) to deceive international buyers, but by conducting thorough checks, securing payment methods, and maintaining vigilance, buyers can protect themselves from these scams.

The Hidden Dangers of ‘Too-Good-to-Be-True’ Steel Prices: Protect Your Business from Non-Delivery Scams

In dealings with Chinese steel suppliers, one may frequently encounter alluringly low prices; however, some suppliers use these prices as bait, failing to deliver after receiving prepayment—a costly risk that can be mitigated by researching suppliers, setting clear contract terms, and using secure payment methods.

The Price of Bargains: Why Temu’s Low-Cost Strategy is Backfiring

In its bid to capture the U.S. market, Temu employed a weapon of mass appeal: rock-bottom prices. This strategy swiftly opened doors to American consumers, particularly in the so-called “outer rings” of the market. However, this very weapon has now transformed into a double-edged sword, beginning to backfire on the company as it faces growing discontent from both buyers and sellers.