Crédit Agricole CIB executed its first Copper/Nickel hedging transaction with China Minmetals Nonferrous Metals Co., Ltd. China Minmetals Nonferrous is an active metals hedger and the Bank provided competitive price and superior service to help the client trading on the London Metal exchange (LME). Crédit Agricole CIB offers Minmetals a comprehensive credit line to support relatively large trading volume. Currently, the Bank is one of the most active trading counterparties for Minmetals.

Crédit Agricole CIB has been mandated because of its long-term cooperation with Minmetals across different product lines. "Minmetals wanted to expand its trading business in London entity so we invited the client to use our LME capabilities to support its business activity." explains James Zhang, Fixed Income Markets Commodities "After we carefully analysed its financial and business future, Crédit Agricole CIB agreed with China Minmetals Nonferrous on the appropriate business terms and credit lines for commodity hedging. China Minmetals Nonferrous appreciates that we provide long-term support for its business."

Crédit Agricole CIB in Beijing has close contact with Minmetals at group level and with its various subsidiaries. Previously, the Bank acted as mandated lead arranger for a 3-year USD 200 million syndicated loan to Minmetals and the facility was repaid in 2009.

Minmetals is a large corporation dealing worldwide in development, production, trading and operations for ferrous and non-ferrous metals, including iron ore, coal, coke and other raw materials for metals product manufacturing. It is China’s No.1 trader of steel, tungsten and coke and No. 2 importer of alumina. It is also engaged in finance, real estate and logistics. Minmetals is under direct leadership of central SASAC and is listed among the 44 "key enterprises" in China under the direct supervision of the central government. Minmetals ranked No. 331 among the Fortune Global 500 in 2009 (ranked 412th in 2008).