“An Indian company has launched what it says is the world’s first cash machine to dispense diamonds as well as gold and silver coinsÂ¦They hope to cash in on the insatiable demand of Indians for jewels and precious metals. –BBC News, Oct. 27, 2011
Press Release —
CHICAGO. 24 November 2011. —
For Release Just Before Black Friday 2011
Freeliance, Buyerson, and Starmon/NoFeeStone, the Ëœnew international ventures’ divisions of three well-known distributors, have finally given in to shopper demand and announced a brand-new game-changer for all metal shopping needs this Black Friday: ATMs that dispense steel, aluminum and copper products.
The three metal service centers, which are all US-based, have been concerned about the lackadaisical domestic construction market dampening metal demand; that’s why they’re very excited to enter their first test market with these ATMs: China.
“China’s steel and non-ferrous metal buyers have been jonesing for this type of innovation for at least a decade, said Thomas McCann, head of new product development at Buyerson. “What a convenient method to buy your copper wire, or even steel tube. He continued, “Buyerson is committed to putting metal in a Chinese buyer’s hand quickly and easily to quench their insatiable demand.
ATMs can dispense the metal in any way, shape or form the card-carrying customer desires; granted, the largest of these ATMs covers about a square city block, but it’s all in the acronym — these are “automated” machines, making even relatively cheap Chinese workers moot.
Chinese demand for steel, copper and aluminum comes from still-growing construction and transportation markets that show no sign of slowing down. China’s unquenchable demand for copper, for example, and intent to acquire it as cheaply and easily as possible, created a perfect environment for industrial metal ATMs, said a Freeliance spokesman.
“No need to deal with the SHFE or the LME anymore, or even with producers, said Lawrence Coke, Freeliance’s director of communications. “Just walk down the street in Guangzhou or Tianjin, stick your ATM card in, and out comes 304 stainless. It’s that easy. ATMs even feature a variety of castings, extrusions, pre-fab parts, and stampings in addition to billet, slab and ingot.
Starmon/NoFeeStone offered the most customer-friendly innovation: absolutely no ATM surcharges or premiums on any of the metals. The machines provide convenience and a price discount at the same time. The three companies hope this will solidify their position in China’s metal distribution market.
Although spokespeople acknowledge that the Chinese don’t celebrate either Thanksgiving or Black Friday, they’re confident that China’s new-found penchant for insatiable consumption will be enough to import the spirit of giving thanks, then shopping before thinking twice.
Tom Tryptophan, Director of Sales, Freeliance