SAWT BEIRUT INTERNATIONAL

| 23 June 2024, Sunday |

China’s Huawei sets up commodities hedging team in Singapore, Hong Kong

 Huawei Technologies (HWT.UL) is building a commodities team to hedge and trade metals and energy products, according to the Chinese technology company’s job posts on professional social network LinkedIn.

The company was looking for a commodity trader and a commodity market analyst in Singapore a month ago, the posts on LinkedIn showed. Both positions are no longer accepting applications.

Huawei was also hiring a metals hedging specialist and a metals research specialist in the city-state four months ago, according to separate LinkedIn posts.

Huawei did not respond to Reuters’ request for comment on the commodities team hirings it has made or its hiring plans.

The positions will work closely with Huawei’s teams in China and Hong Kong to grow its metals hedging and researching capabilities as well as risk control, focusing on ferrous, nonferrous and battery metals, the posts said.

Huawei started building the team this year, which currently has five members, and will likely hire up to four more staff in the commodities and financial trading hubs of Singapore and Hong Kong, a source with direct knowledge of the matter said.

The team’s goal is to hedge Huawei’s raw materials exposure in base metals, ferrous metals, energy and lithium products, said the source, who did not wish to be identified as the matter is not meant to be discussed publicly.

The team is drafting the hedging proposals and trading plans, said the source.

    Source:
  • Reuters