Cedar Commodities Supply Chain Group and Hongqiao International Trading Limited, a subsidiary of China Hongqiao Group, signed an annual aluminium ingots long term cooperation agreement. The agreement is estimated to generate RMB 1 billion for the two companies.
China Hongqiao Group is the world’s largest aluminium smelters and aluminium products manufacturer. The company went public on Hong Kong Stock Exchange in 2011. It engaged in thermal electricity generation, bauxite mining, manufacturing of alumina, molten aluminium alloy, aluminium alloy ingots, aluminium alloy casting, aluminium busbar, aluminium foil and new materials. Covering all segments of the aluminium value chain, the company produces a total of 6.274 million tons of aluminium products in 2019.
In the past two decades, guided by “customer first“ principle, Cedar Commodities trades a wide range of commodities, including non-ferrous metal, ferrous metal, chemicals and energy. It manufactures and sells bauxite, alumina, electrolytic aluminium, aluminium rod and aluminium profile. As it expands its presence along the aluminium value chain, it has built up extensive experience and a large client base. In terms of upstream suppliers, the company has established close relationship with large enterprises including Shandong Xinfa Aluminium Group, Guangxi Baise Baikuang Group, Hangzhou Jinjiang Group and Yunnan Aluminium. Meanwhile, Cedar Commodities has almost all mainstream aluminium processing enterprises in eastern and southern China as its downstream customers.
Since the start of 2020, Cedar Commodities has risen to the challenges posed by COVID-19 to provide diverse and well-developed supply chain management services, which effectively lower the costs and improve the efficiency of transactions for customers. Businesses and resources that play a centre role in various segment of the supply chain were attracted to Cedar Commodities' s services as well. The stepped-up cooperation with China Hongqiao Group has enhanced Cedar Commodities' influence and service provision capacity in China's aluminium sector.
