Back to Insights
Blog Img

Aurex Insights: Bulk APAC - Sep 2022

What people are talking about​

Leading metals trader Maike Metals is facing liquidity issues and the CEO He Jianbin has called on the government and financial institutions for help after delaying payments for copper imports. The ripple effects in the market have already started with Codelco and BHP both pausing sales to the company.

Though global economic turmoil and inflation concerns across major markets create a negative sentiment, the commodities sector shows great potential as an inflationary hedge. Major firms across the spectrum also continue to do well despite rising financing costs due to their access to internal cash.

The Black Sea deal shows its impact on the global grains markets as high prices calm and supply issues resolve slowly. Food security is however still a significant concern as end-users have taken the shock as a wake-up call - they may not be able to continue with their traditional procurement models and will need to strengthen their sourcing capabilities through hiring trading talent.

Over the past few months, the containerized agricultural market has seen significant growth to target the specialized products required across the pet food, aquaculture, and food ingredients market. Though generally more labour intensive than traditional bulk shipments, just-in-time logistics solutions have proven to be a winning factor for the sizeable mid-size and retail market.

A weakening Chinese Yuan has dampened appetites amongst some Chinese commodity players. However, there is still no shortage of interest within the primary and secondary metals sectors, with some companies looking to secure independent sources of bauxite, alumina, and scrap from non-traditional or independent sources of such products.

What we are currently working on

  • Physical Iron Ore Trader – Singapore

  • Junior Agricultural Commodities Trader – Singapore

  • VP/D Banking Commodity Sales – Singapore

  • Nickel Trader – Singapore

  • Nickel Trader – Shanghai

  • Metals Deals Desk – Singapore

  • Senior Agricultural Commodities Trader – Singapore

  • Base Metals Trading Manager - Singapore

  • Asia HR Manager - Singapore

If you are interested in any of these roles, please reach out to us via the contact details at the end of this newsletter. Alternatively, click here for more jobs.

image.png

New EP Regulations

Employment Pass regulations which we are already seeing clients alter their hiring plans in response to.

The main takeaways from these changes are as follows:

Older candidates will require a higher salary to qualify for EP.

The Financial Services sector will continue to have a higher qualifying salary due to higher wage norms. The qualifying salary figures will be regularly changed to reflect economic conditions.

The revised figures for EP applications are as follows:

image.png

*note that the salary is benchmarked to the top 1/3 “Professionals, Managers, Executives and Technicians” salary.

For HR/hiring managers in Singapore this is something to take note of when considering hiring candidates locally, Aurex Group can assist with a targeted search of Singaporean/PR individuals, or help with EP applications. If you have any further questions please contact one of our consultants.

image.png

Market Moves

  • Bin Sun has joined Olam Shanghai as China TSF Manager, previously with Louis Dreyfus.

  • Sally Chen has joined Louis Dreyfus Shanghai as China Treasury Head, previously with Bank of China.

  • Elaine Zhu has joined Mitsubishi Corporation as Chief Risk Officer, Minerals Division, previously with Gerald Metals.

  • Helmut Arbet has joined Anglo American as Manager – Book Owner Metallics, previously Managing Director of Codelco Singapore.

  • Raymond Ong has joined Targay as a Renewable Feedstock Trader, previously with Mewah Oils and Fats.

  • Kenneth Tan has joined Tereos as a Sugar Trader, previously a Dairy Trader at Interfood.

  • Kelvin Li has joined Zijin Mining as a Senior Metals Trader, previously with Xiangguang.

  • David Catley has joined South Pole in a Carbon Business Development role, previously Director at PT Rheincoal Supply and Trading.​

I hope you enjoy our latest market insight for metals and bulks commodities. For a discussion around recent mandates, compensation, or other hiring trends, please do not hesitate to get in touch.

alex.jpg
Alex Kerr
Director | Partner

+65 3165 0710

alex@aurexgroup.com

EA 18S9493 | R1328009

John O.jpg
John Ong
Associate Director

+65 3165 0710

john.ong@aurexgroup.com

EA 18S9493 | R1658515