On June 29, Guangzhou Lianhua Industrial Co., Ltd., a wholly-owned subsidiary of Cedar Commodities Supply Chain Group, and Shanghai Kunbang International Trading Co., Ltd. (hereinafter referred to as "Kunbang International") , a wholly-owned subsidiary of Shandong Hengbang Smelting Co., Ltd. (hereinafter referred to as "Hengbang Shares") signed a strategic cooperation agreement. The agreement is estimated to generate RMB 3.5 billion for the two companies, and marks a higher-level cooperation takeoff in electrolytic copper for two companies, which will further improve Cedar Commodities’ influence in China's electrolytic copper market.
Hengbang Shares is one of China's key national gold smelters and pillars of copper industry in Yantai, Shandong province. Listed on the Shenzhen Stock Exchange in 2008, the company produces a wide range of products including gold, silver, electrolytic copper and electrolytic lead, with an annual output value of over RMB 2.8 billion. Lyu Dong, General Manager of Kunbang International appreciated Cedar Commodities for its good reputation and business performance. He was confident about the upcoming cooperation based on the efficient and friendly cooperation in the past and urged the two companies to give full play to their respective strengths as usual.
In the past two decades, Cedar Commodities, as a customer centred organization, has covered the whole spectrum of commodities and established a long-term strategic partners relationship with large smelters including Zijin Mining, Jinchuan Copper and Yunnan Copper. Cedar Commodities Supply Chain Group has become the largest copper products supplier in South China. Not long ago, Cedar Commodities was made one of the Top 50 Non-Ferrous Metal Physical Trader for the first half of 2020.
According to sources from Cedar Commodities, in response to the impact of COVID-19 pandemic and challenges of international trade, the company will increase its business categories, improve its industrial chain comprehensive service capability and try to navigate the unpredictable market together with its global clients.
