Transoceanic Development visits Asian Metal

On May 12th of 2015, Soh Gim Hoe, the Senior Executive of Transoceanic Development (Singapore) Pte. Ltd, visited Asian Metal and exchanged opinions on iron ore, magnesium, rare earth and tantalum niobium markets with Victor Hu, senior analyst of Asian Metal, Molly Zhang, assistant analyst of Asian Metal, Daphne Zhang, senior analyst of Asian Metal, Vivian Pang, senior analyst of Asian Metal and Maggie Lee, analyst of Asian Metal.

Gim exchanged ideas of iron ore market with market analysts Victor Hu and Molly Zhang from Steel Raw Material Department. Gim expressed that the iron ore mines they are cooperating with can provide 53%min and 67.6%min iron ore fines, but they have no plan to sell at the moment as prices are quite low. He further expressed his willingness to find more iron ore buyers in China through Asian Metal when the market turns to be better.

Afterwards, Daphne Zhang, senior analyst from Minor Metal Department of Asian Metal discussed the distribution on magnesium ingot and market situation with Gim. China is a major producing area of magnesium, accounting for 90 percent of global supply. Magnesium prices continued to decline, while buyers from domestic and overseas markets focused on hand-to-mouth orders, resulting in a weak market. Chinese producers operated with low profits, while some even lost money as oversupply of magnesium dragged the prices down again and again. Magnesium industry is likely to witness massive production suspension, reformation and adjustment in the future. Meanwhile, Mr. Su revealed that the market statements of minor metals are not optimistic caused by sluggish economy and slow demand, and he will enter the market with caution.

In the afternoon, Vivian Pang, senior analyst on rare earth market from Minor Metals department of Asian Metal communicated with Gim about rare earth market. Gim claimed that they are negotiating with an ore owner, which is located in Africa and they pay much attention to the development of rare earth ore business. Vivian introduced current rare earth and its downstream markets to Gim. According to Vivian, on the background of over-supplied, the markets for rare earth ore, oxide, metal and its downstream industries are in low performance. It is hard for suppliers to make deals and the competition among suppliers is furious. Vivian also analyzed the advantage and disadvantage of Transoceanic Development (Singapore) Pte. Ltd. Gim showed his appreciation to Vivian, and speak highly of Asian Metal’s information.

Gim also talked with Maggie Lee, analyst from Minor Metals of Asian Metal, about the tantalum and niobium market. He said that the company is going to import a batch of tantalum and niobium concentrate from Africa and the sample has already been sent to SGS Tianjin and they are waiting for the final results. They are able to offer 300 tons of the materials in the future.

In the end, Gim expressed his gratitude to Asian Metal’s information and hopes the two sides to promote mutual communication.