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.
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:
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.
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.
Director | Partner
+65 3165 0710
EA 18S9493 | R1328009
+65 3165 0710
EA 18S9493 | R1658515