Asian Metal visits RHJ Trading

On the 18th June Asian Metal London’s minor metal analysts Scott Yarham and Mark Moore visited the office of RHJ Trading Limited just outside Westminster to meet with Charles Swindon, Vivian Wang and Leo Mills. RJH trading is an international team dealing in a range of products with main focus in non ferrous metal, minor metal, ferroalloys and rare earth elements.

After being invited in and provided with drinks Mark and Scott sat with Charles in the meeting room of RJH’s offices and started by discuss mercury trading. Charles provided some basic background on the market and brief guidance on the usages of mercury and basic market dynamics as this will be a new product to be covered by Asian Metal in Europe.

Charles explained to Scott that the European bismuth market was still weak and he does not expect prices to change for the remainder of the year. He explained that he was still optimistic that the lead replacement initiative could breathe life into the market in, perhaps only in 2014 however. Charles was interested to hear more from Scott about the political situation in the DRC and what implications this had on the Cobalt market going forward. He believed the cobalt price to be one of the few metal prices showing stability.

Mark discussed the magnesium market briefly with Charles, but as Charles confirmed there is very little activity for magnesium in Europe at present and price from China continue to reduce on an almost daily bases. Charles noted a similar situation for the rest of the markets they cover with the notable exception in recent weeks being cadmium which has shown growth through the majority of 2013 but very recent development indicate prices firm after a drop with the small possibility of downward movement.

Leo and Vivian came in to the meeting to discuss the current markets with Scott and Mark, but as previously confirmed by Charles leo explained they are seeing very little business in Europe with the markets remain weak due to the European economic environment and the approach of the holiday shut downs across Europe between July and August. Leo confirmed they have seen some activity from South America but confirm this region is struggling to get a foot in the metal markets due to the dominance of China and high freight costs. Leo also confirmed some development of African sources is being performed by RJH as an interesting region for development.

Mark asked Vivian about their activity with silicon metal where RJH have dealt with Chinese exports to international buyers, but Vivian confirmed that recent export prices from China and exchange rate fluctuations has meant they have seen more enquiries from European buyers as Chinese silicon metal is competitive with other European sources despite a 19% anti dumping duty.

Leo Mills found it interesting to have a discussion about the current antimony market with Scott. Leo explained that prices were depressed at the moment and he believed it would take quite some time before the market witnessed any growth. He was interested to hear that Mediterranean Resources had bought two old antimony metal mines in Spain and wanted to learn more about this development. He explained that this would definitely be healthy competition to Chinese production which dominates the market.

Charles and Leo confirmed they find Asian Metal a useful source of information on the metal market and enjoy exchanging information with the Analyst in the London and Beijing offices.