In response to global commodity markets challenges, we are consistently expanding our product portfolio and have recently added a diverse range of new commodities, including copper concentrate, diesel fuel, jet fuel, natural pipeline gas, silver and gold concentrate, chrome ore.
Each of these products is chosen based on its growing importance in global trade and increased interest from our customers. Moreover, portfolio diversification remains a cornerstone of our risk mitigation strategy. Expanding the portfolio, we reduce dependence on any single market, enhancing the resilience and stability of our operations. This approach not only minimizes risks but also enables us to find new partners, serve a broader range of customers, offering them tailor-made trade finance solutions that address specific needs within their industries.
Let’s take a look at why we have found it’s important to support new products in our portfolio:
Demand for copper concentrate, essential for infrastructure and technology, continues to grow globally, driven by advancements in renewable energy and electric vehicles manufacturing. Its excellent conductivity makes it essential for wiring, motors, and power generation equipment including renewable energy components like wind turbines, solar panels, and energy storage systems. In infrastructure, copper’s durability and malleability make it ideal for pipes, construction and structural materials. Moreover, hi-tech electronics depend on copper for production of circuit boards and connectors.
Copper is highly recyclable, with no loss of quality, and recycled volume accounts for about 30% of global supply.
In 2023, global copper concentrate shipments reached approximately 44.5 million metric tons, marking a 6.6% increase from the previous year. Coming to market leaders, Chile and Peru remain dominant exporters, accounting for over 50% of global exports while China leads with a staggering 27 million metric tons of imports, followed by Japan, European Union and South Korea. Our financing solutions aim to optimize trade flows and provide liquidity to our customers, supporting the shift towards high-efficient technologies.
Chrome ore stands as a basic material that manufacturers utilize to create ferrochrome, an essential alloy used by stainless steel producers across industries like construction, automotive, aerospace and household appliances due to its durability and corrosion resistance. Apart from that, chromium compounds are widely used in the chemical industry for pigments, dyes and plating. In the refractory sector, it is utilized to create heat-resistant materials for furnaces, kilns and components for aerospace and automotive industries.
The chrome ore market in 2024 has shown rising demand accounting to 2% increase from 2023 with approx. 31 million metric tons traded. While South Africa accounts for over 60% of the world’s chromite reserves and is the biggest exporter of chrome ore, China being the largest market for chrome ore imported about 20 million metric tons, representing a 15.94% year-over-year increase.
However, other producing countries like Turkey, Pakistan, Albania and Oman are also increasing their chrome ore production to capture a share of the growing market.
Albanian chrome ore is known for its unique high Cr:Fe ratio, making it especially valuable for ferrochrome producers seeking high-quality inputs.
As demand for stainless steel keeps growing in many regions, chrome ore remains a foundation of industrial development for years.
Diesel and jet fuel remain crucial for transportation and industrial operations. Diesel is essential for operating heavy-duty vehicles, trains and industrial machinery. It is also widely used in construction, agriculture, and power generation. As for Jet fuel, primarily aviation turbine fuel, it powers aircraft engines, enabling global air travel and cargo transport. Both are also used as feedstocks in the petrochemical industry for producing various chemical products.
Jet fuel’s high energy density is critical for long-haul flights, ensuring efficient fuel consumption and aircraft performance.
The International Air Transport Association forecasts a 7-8% annual growth in global air travel, increasing jet fuel demand. In 2023, amongst others the United States, Saudi Arabia and other Middle East countries were leading exporters of refined diesel and jet fuels contributing to 1.1 billion barrels of diesel and 850 million barrels of jet fuel traded globally with projection to double the numbers by 2032. Due to ongoing urbanization and economic growth Southeast Asia and Africa are seeing increased demand for both products. By including those products, we are enabling financing solutions for our energy trading partners, contributing to their consistent supply.
Natural gas stands as one of the most diverse and environmentally friendly fossil fuels available today. Power plants rely on it to generate electricity with lower carbon emissions compared to other fuels. In the industrial sector, it is commonly used for heating, steam generation, and as a feedstock for producing chemicals like ammonia and methanol. Additionally, natural gas is a key player in the transportation sector, where compressed natural gas and LNG are emerging as cleaner fuel options for vehicles and ships.
Liquefied natural gas is being transported across oceans, making it a game-changer for global energy trade.
In 2024, global natural gas production reached approximately 4 trillion cubic meters and expected to grow up to 5.3 trillion cubic meters by 2050. The United States leads global natural gas production with around 1 tcm, largely due to its shale gas revolution. Russia, Iran, Canada and Qatar follow closely behind, with each country contributing significantly to global supply through vast reserves and extensive infrastructure. From other side, China, Japan, and Europe are at the forefront of natural gas imports, reflecting their growing industrial and energy needs. With increasing global focus on reducing carbon emissions, Maxwer’s entry into this sector reflects our dedication to support energy security and access to affordable energy sources.
Given skyrocketing demand in electronics, silver and gold concentrate have become substantial to the manufacturing of microchips, medical equipment and solar panels. Silver’s unmatched conductivity and gold’s corrosion resistance make them indispensable also in renewable energy and aerospace industries.
Silver and gold are often found together in polymetallic ores, making their extraction interdependent.
The silver and gold concentrate market has shown resilience in 2024, supported by industrial demand and investment trends. Last year around 2.5 million metric tons of silver and gold concentrates were traded globally, showing a slight increase from the previous year. Peru, Mexico and African countries continue to be leaders in exports, while China, Europe and Korea dominate imports due to their advanced refining and manufacturing sectors.
We continue to diversify our commodity portfolio and contribute to bridge trade finance gaps, create values and support our customers alongside the supply chains, reinforcing our position as a trusted partner in the commodity industry.
