Lykos, India’s first online refined metal retail store
Mumbai, July 16 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.
Salient features of Lykos:
Sourcing - Provide the best quality products at highly competitive prices through negotiations and off-take agreements with metal manufacturers
Storing - State-of-the-art warehouses hold sufficient quantities of refined metals at all times and ensure best practices are maintained to avoid any deterioration
Delivery - Uses its global expertise to operate efficient, safe and high-quality logistics, so that commodities are available to customers in a timely manner, without compromising quality
Further Information
For more information visit: www.lykos.in
Video URL: https://www.youtube.com/watch?v=BpFKyn8ODIc
About Trafigura:
Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. Trafigura sources, stores, transports and delivers a range of raw materials (including oil and refined products and non-ferrous metals, iron ore and coal) to clients around the world. The trading business is supported by industrial and financial assets, including 49% owned global oil products storage and distribution company Puma Energy; global terminals, warehousing and logistics operator Impala Terminals; Trafigura's Mining Group; 50% owned DT Group which specialises in logistics and trading; and Galena Asset Management. The Company is owned by over 700 of its almost 9,000 employees who work in offices in 58 countries around the world. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade. www.trafigura.com
For further information please contact:
Trafigura's Global Press Office: +41 (0) 22 592 4528 or media@trafigura.com
Ruder Finn India: +91 98199 58140 or sharman@ruderfinnasia.com