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THE
PROMPT
Newsletter of the Canadian Association of Recycling Industries
Volume 3, No. 2, February 2011
INSURANCE TIPS
How Does the Value of a Currency Relate to Credit Risk?
If the value of the Canadian dollar increases against the US dollar, it makes the cost of Canadian goods to US buyers higher, thus putting the Canadian exporter at a disadvantage. Conversely, the lower US dollar makes US exports cheaper and more competitive. From a credit perspective, the Canadian exporter is likely a higher risk and the US exporter is a lower risk.
In looking at importers, if the value of the local currency declines, the price of the imported goods increases in terms of the local currency and unless the importer can pass the increases along to its buyers, its financial condition will deteriorate.
The major risk in this area is a devaluation of the local currency between the time the order is placed and the time the payment is due. As we have seen in Mexico in the last two years, a similar situation caused a spike in the payment defaults. If the devaluation occurs before delivery of the goods, the risks of repudiation or non-acceptance of the goods increase substantially.
Click the image above or visit here for information.
BUSINESS OPPORTUNITY
GIGA Invest GmbH (www.gigainvest.eu) is interested in arranging one-year contracts for monthly shipments of HMS 1 and 2 of 12.500 MT or more. They are also looking for smaller shipments of scrap that might be sent by 40 foot container, and for used rails. Interested members can contact Patrick Maufroy at Tel: 33 02 5470 2070 or email: pack41deal [at] orange.fr
CARI EVENTS
CARI’s 70th Annual CARI Convention
June 23–25
at the Fairmont Whistler
in Whistler, British Columbia
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CARI’s Annual Golf Tournament
August 18
at the Legends on the Niagara
www.niagaralegends.com
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CARI’s 14th Annual Consumers’ Night
October 24
at the Fairmont Royal York in Toronto
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For information on CARI events contact Donna Turner at (905) 426-9313
OTHER UPCOMING EVENTS
March 23–25
Budapest, Hungary
11th International Automobile Recycling Congress
ICM
www.icm.ch
Apr. 5–9
Los Angeles, USA
ISRI Annual Convention and Exposition
ISRI
www.isriconvention.org
Phone: 919-563-5291
Email: cstann [at] meetinginsistes.com
Apr. 7–8
Brussels, Belgium
3rd World Lead Conference
www.metalbulletin.com/EventDetails
Phone: +44 (0) 20-7779-7999
Apr. 21–22
Hangzhou, China
China International Scrap Conference 2nd Overseas Supplier and Domestic Consignee Fair
CIQAR
www.chinascrap.org/engzgslsc.aspx
May 22–25
Singapore
BIR 2011 World Recycling Convention & Exhibition
BIR
www.bir.org/events/future-events/singapore-2011/singapore-provisional-sequence-of-meetings/
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