Reportedly, Japan’s Mitsubishi Corp will invest a news trading unit in Singapore to emerging China and India market.
The Japanese trading house will join the likes of Swiss merchant Trafigura and global miner BHP Billiton.
Mitsubishi with US$14 billion cash equivalent on hand has benefited as European competitors have cut exposure to the capital-intensive commodities business.
The new subsidiary, Mitsubishi Corp RtM International Pte Ltd, will serve as the headquarters for the company’s global metals resources trading and expect to operate in April 2013.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62242&division=A9
