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.