MELBOURNE: Statdrome PTE, a metals and energy trading company backed by ex-Trafigura and Marc Rich traders, has set up in the Asian commodity trading hub of Singapore, the company said.

Statdrome was incorporated in Singapore in January and is building out its commodity business.

“Statdrome will be focused on non-ferrous metal trading with a particular interest on concentrates,” the company told Reuters in a statement last week.

Statdrome was founded by investor David Preiskel and a group of former Trafigura, Marc Rich and Marubeni Hitochu non-ferrous and oil traders, another addition to the flurry of new metals desks that have sprung up in the past two years.

At least half a dozen companies last year won mandates to expand their metals businesses, backed by Chinese and private capital, often set up by traders who had left large merchants.—Reuters