London-based minor metals firm RJH Trading (RJH) will cease its trading operations and all business will be transferred to Amalgamet Limited, Argus learnt today.
Starting from 1 October, Amalgamet — the physical trading arm of non-ferrous metals at UK-based AMC Group — will take over the management of all RJH operations.
Amalgamet is hiring the team from RJH, including Charles Swindon, the founder and managing director of RJH and former chairman of the Minor Metals Trade Association (MMTA), who will work as a consultant. Senior RJH traders in Scandinavia and India will trade for Amalgamet.
Amalgamet, also headquartered in London, aims to expand further into more high-growth metals and take advantage of trading a greater diversity of metals and concentrates, both parties told Argus.
Amalgamet mainly supplies base and minor metals, and through the merger will add new products that RJH has been trading for years including ferro-alloys such as ferro-chrome, ferro-silicon and other minor metals such as magnesium. For several metals including antimony there will be a crossover, as both trading firms have positions in the market.
Charles Swindon told Argus the mix of the two portfolios is a good match and added that it is important to spread risk at a moment of geopolitical fragmentation. "This [partnership] brings over 100 years of invaluable trading experience in all metals as well as new opportunities in all parts of the world," he said.
The financial details of the transaction have not been disclosed.
