As the rising costs made companies look for cheap products, a scam news came. A Chinese firm defrauded Turkish firms by promising to sell metals at below market prices. The fraud was announced to Turkish companies with the warning of the Turkish Embassy in China.
In the news in the world, it was stated in the warning letter that Turkey's Trade Counselor in Beijing sent to the Turkish Exporters Assembly, that some Turkish companies were defrauded and suffered losses due to the increased metal prices with the pandemic. In the article, it was stated that global raw material/intermediate product prices increased tremendously, especially in the post-pandemic period, and that the People's Republic of China (PRC) is the world's largest consumer of raw materials/intermediate products such as zinc, copper, aluminum and iron.
RECEIVED ADVANCE AND CAD PAYMENT
In the statement, it was emphasized that the market and export prices in China are also in line with the world prices, however, many Turkish companies have recently made cash payments or large-scale advance payments to Chinese companies with a price commitment well below the market average for the aforementioned raw material/intermediate products. It turned out that Turkish companies could not buy products despite paying and were defrauded.
In the statement made by TİM, it was stated that "Although our companies were warned many times by the Beijing Consultancy and through the Ministry of Commerce, it was observed that fraud cases continued."
"Inner Mongolia Junsai Chemicals Co. Ltd.” It is stated that there is a Chinese company named
THERE ARE MORE THAN 10 TURKISH COMPANIES
The number of Turkish companies defrauded by the Chinese Inner Mongolia Junsai Chemicals is currently 3. The amount defrauded is expressed in millions of dollars. Beijing Consultancy has also reported the incident to the relevant Chamber of Commerce of China regarding the fraud case. More than 10 Turkish companies have also sent an e-mail to the Beijing Commercial Counselor and requested an investigation about the Chinese. Although not officially announced, the number of Turkish companies defrauded by the Chinese company seems to exceed 10 in the coming days. On the other hand, the company's official website also emphasizes that it supplies low-priced products in the introductory article about the company.
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