London-based metals trading firm Amalgamet Ltd, part of Amalgamated Metal Corp (AMC Group), is expanding its commodity trade finance business, it said on Friday August 21.
"Amalgamet Ltd will look to build relationships with producers, manufacturers, traders and end-users in the minor metals industry to offer an alternative financing route from the usual banks," the company said.
It trades in non-ferrous metals, mainly tin, copper, tungsten, antimony, lead, silicon and nickel. It will support the movement and storage of physical commodities for businesses of all sizes in the minor metals industry, it said, in the form of prepayments, payment for goods in transit or stock financing.
Trade finance getting tighter
The announcement comes at a time when minor metals market participants have been reporting increasing difficulties in gaining access to credit from banks and financial institutions.
Trade disruptions caused...