The London Metal Exchange (LME) released an announcement on 16 July 2019, in which LME officially announced cobalt metal produced by Quzhou Huayou Cobalt New Material 603799. SS was added to its list of approved brands for delivery against its physical contract.
LME is the largest non-ferrous metal exchange in the world, which was founded in 1876. The listed price and inventory of LME has an important influence on the production and sales of worldwide non-ferrous metals. LME has always been strictly auditing the brands for delivery against its physical contract.
After rigorous due diligence on Huayou's sustainable production with quality stability as well as responsible ethical sourcing, Huayou Cobalt's application was finally approved, which cost the Company nearly two years. This means that the Company's cobalt products have been recognized by the industry, which can further enhance the Company's brand awareness. Meanwhile, it also helps the Company’s cobalt products widely circulate in the overseas market.