HOTLINE: Daye Non-Ferrous Metals sets up trading office in Singapore

Daye Non-Ferrous Metals Co Ltd, one of China’s largest copper smelters, has set up a commodity trading branch in Singapore, registered under DNMC (Singapore) Resources Pte Ltd, and is looking to hire metals traders.

Daye Non-Ferrous Metals Co Ltd, one of China’s largest copper smelters, has set up a commodity trading branch in Singapore, registered under DNMC (Singapore) Resources Pte Ltd, and is looking to hire metals traders.

Yu Junyan is the gm at the Singapore office and Fiona Liang is the finance manager.

“Our new Singapore office started operations in June this year and currently there are 4-5 people,” Yu told Metal Bulletin.

He was looking to hire two-three traders in Singapore who would initially trade copper concentrates, copper cathodes and silver ingots, Yu said.

“Our goal is to integrate Daye’s strengths with those of Singapore as a hub of finance and skilled workforce to make Daye’s Singapore office a highly competitive international trading platform,” Yu said.

Singapore is Daye’s second international subsidiary office after Hong Kong where the company set an office about four years ago.

“Hong Kong is advantageous for the Chinese market but Singapore is for the global markets,” he said.

Daye joins the likes of Jiangxi Copper, whose trading subsidiary set up shop in Singapore late last year

Singapore is global hub for many major copper miners and trading houses that have set their base here.

Besides his new role at DNMC, Yu also owns another company called Shanghai Rui Zhao Trading Co Ltd.

Rui Zhao’s main business is silver trading in the domestic market and it is among the top 10 comprehensive services providers for the silver industry in China.

Yu started his career in Daye Non-ferrous in 1993 and left in 2000. He then worked as the gm of base metals in Wanxiang Resources, one of China’s leading domestic trading firms between year 2000 and 2008. In 2009, Yu started Shanghai Rui Zhao.

editorial@metalbulletinasia.com

What to read next
The publication of Fastmarkets’ Shanghai copper premiums on Monday December 23 were delayed because of a reporter error. Fastmarkets’ pricing database has been updated.
Fastmarkets proposes to amend the frequency of the publication of several US base metal price assessments to a monthly basis, including MB-PB-0006 lead 99.97% ingot premium, ddp Midwest US; MB-SN-0036 tin 99.85% premium, in-whs Baltimore; MB-SN-0011 tin 99.85% premium, ddp Midwest US; MB-NI-0240 nickel 4x4 cathode premium, delivered Midwest US and MB-NI-0241 nickel briquette premium, delivered Midwest US.
The news that President-elect Donald Trump is considering additional tariffs on goods from China as well as on all products from US trading partners Canada and Mexico has spurred alarm in the US aluminium market at a time that is usually known to be calm.
Unlike most other commodities, cobalt is primarily a by-product – with 60% derived from copper and 38% from nickel – so how will changes in those markets change the picture for cobalt in the coming months following a year of price weakness and oversupply in 2024?
Copper recycling will become increasingly critical as the world transitions to cleaner energy systems, the International Energy Agency (IEA) said in a special report published early this week.
Fastmarkets proposes to lower the frequency of its assessments for MB-AL-0389 aluminium low-carbon differential P1020A, US Midwest and MB-AL-0390 aluminium low-carbon differential value-added product US Midwest. Fastmarkets also proposes to extend the timing window of these same assessments to include any transaction data concluded within up to 18 months.