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China’s Huawei set up a commodities hedging team in Singapore and Hong Kong

A visitor checks a mobile phone near the Huawei logo during the Mobile World Congress in Shanghai, China June 28, 2023. REUTERS/Nicoco Chan/File Photo

China’s Huawei set up a commodities hedging team in Singapore and Hong Kong. According to job postings on the professional social network LinkedIn by the Chinese technology corporation Huawei Technologies (HWT.UL), the business is creating a commodities team to hedge and trade metals and energy goods.

The LinkedIn advertisements from a month ago indicated that the organization was searching for a commodity trader and a commodity market analyst in Singapore. Application consideration for any post has ended. According to other LinkedIn ads from four months ago, Huawei was looking to hire a metals research and hedging specialist in the city-state.

The commodities team hires Huawei has made so far, and its future recruiting intentions were not addressed in Huawei’s response to Reuters’ request for comment.

The roles will concentrate on ferrous, nonferrous, and battery metals. They will collaborate closely with Huawei’s teams in China and Hong Kong to expand Huawei’s metals hedging, researching, and risk control capabilities.

According to a source with firsthand knowledge of the situation, Huawei began assembling the team this year and currently has five individuals. The company plans to add up to four additional employees in Singapore and Hong Kong, which are commodities and financial trade centers.

The insider, who wished to remain unnamed since the subject is not intended for public discussion, stated that the team’s objective is to minimize Huawei’s raw materials exposure in base metals, ferrous metals, energy, and lithium goods.

The insider said the group is now developing trading and hedging proposals.

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