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LYKOS, India’s first online refined metal retail store launched

iconJul 17, 2014 15:19
Source:SMM
Trafigura, a market leader in the global commodities industry, today, announced the launch of India’s first online refined metal retail platform- Lykos.

Mumbai, 16 July 2014

Trafigura, a market leader in the global commodities industry, today, announced the launch of India’s first online refined metal retail platform- Lykos. A new venture, created as a subsidiary of Trafigura India Private Ltd., Lykos will provide its customers guaranteed metal stocks, with assurance of high quality and transparent market pricing. The online store will cater to small and medium sized manufacturers with metals consignments ranging between 1 to 24 tons.

Customers will have access to index-linked prices for a range of metals - Aluminium, Copper, Lead, Nickel, Tin and Zinc - that can be ordered on a need basis, purchased securely online and collected from newly built warehouses in Ahmedabad (Gujarat), Bhiwadi (Rajasthan), and Kolkata (West Bengal). The three warehouses are strategically located close to key manufacturing centres and the company plans to open more warehouses across the country in the coming years.

By bringing metal trading to the worldwide web, Lykos will be ‘changing the way metal is purchased’ in India. The user-friendly online retail store allows a customer to check prices, place an order at the click of a button and overcome the regular logistical hurdles rampant in the business of metals, thus making the whole procurement process more transparent.

On the launch of Lykos, Raoul Bajaj, CEO Trafigura India Private Ltd. said: “There is a strong demand for refined metals such as aluminium, copper and zinc in smaller lot sizes, but currently the market suffers from lack of automation, erratic supply, poor quality control, complex transportation logistics and opaque pricing.” He further added: “Lykos will leverage Trafigura’s expertise in global trading, advanced IT and infrastructure systems, risk management and logistics, as well as our 20 year history of working with businesses in India, to revolutionise refined metal purchasing across the country.”

Simon Collins, Head of Non-Ferrous and Bulk Commodities for Trafigura Beheer BV said during today’s launch event: “India is a growing market driven by the success of its small and medium sized enterprises. We’ve invested and adapted our business model specifically for these customers.”

Currently, the primary metal commodities market is India is worth USD 8.4 billion, and is projected to grow at 5-8% year on year. Small and medium enterprises contribute close to 40% of revenue to the market each year.

Ends --

For more information visit: www.lykos.in

Video URL: https://www.youtube.com/watch?v=BpFKyn8ODIc

http://vimeo.com/90448874

Trafigura
LYKOS
metals and mining
metals trading
India metal retail platform
Aluminium
Copper
Lead
Nickel
Tin
Zinc

For queries, please contact Michael Jiang at michaeljiang@smm.cn

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