Monaco-based physical and derivatives commodities trading firm Levmet has launched a subsidiary, Steelmet International.

Steelmet, which will be based in London, will trade all major products, including hot-rolled and cold-rolled coil, hot-dip galvanised, billet, rebar, wire rod and scrap, according to

Julian Coates, previously of trading firms Cargill and Macsteel, will lead Steelmet.

Coates, Levmet chairman Paul Chivers and Levmet chief executive Andrew Campbell are listed as directors of the Steelmet, alongside Giulio Thuburn as commercial director.

Steelmet will also offer “tailored financial and risk management solutions”, Coates told Argus.

FILE PHOTO: Steel rolls. Reuters