Henan Jinli Gold and Lead Group Expands Trading Team in Singapore Amidst Metal Market Optimism

The commercial division of Chinese private smelter Henan Jinli Gold and Lead Group Co. Is expanding its commodities trading team in Singapore due to the growing optimism in copper, aluminum, and other metal markets. The division, which handles around half of China’s silver exports annually, aims to recruit between 15 and 20 additional physical and derivative traders for both industrial and precious metals. According to Eric Hu, the trading arm’s general manager, the process might take a considerable amount of time since the competition for talent is becoming intense. In recent months, Jin Li Industrial International Pte., Henan Jinli’s Singapore subsidiary, has added Noel Ruan from Mercuria Energy Group and Bruce Wang from Citigroup Inc. To its staff. This move comes amidst the transformation of metals markets caused by increasing demand from renewable energy installations, AI, and supply scarcities. Major energy trading companies, previously concentrated in the sectors controlled by Glencore Plc and Trafigura Group, are now entering the field. China exported 4,113 tons of silver in 2020, according to official customs statistics, and Jin Li’s Hong Kong trading subsidiary sold approximately 2,000 tons of silver ingots from various smelters in China to global clients, including prominent bullion banks like JPMorgan Chase & Co.