CITIC Metal Co., Ltd.

What CITIC Metal Co., Ltd. does

CITIC Metal Co., Ltd. (中信金属股份有限公司) is a Beijing-headquartered, state-owned commodity trading and mining investment company listed on the Shanghai Stock Exchange (SSE: 601061) and operating as a subsidiary of CITIC Group Corporation. Established in 1997 (with firmographic records also indicating 1988), the company employs 5,001-10,000 people and positions itself as a world-class commodity trader. Its core product lines span niobium, copper, aluminum, iron ore, steel products, and other commodities, with the company explicitly identifying as the pioneer and leader of China's niobium market and as an industry-leading copper full industry chain trader.

The company's underlying "technology" is its integrated trading and mining investment platform rather than a software or hardware product. Through minority equity stakes in Ivanhoe Mines (Kamoa-Kakula copper complex in the Democratic Republic of Congo), Las Bambas Copper Mine (Peru), CBMM (the global niobium leader in Brazil), Western Superconducting Technologies, and Zhongbo Shijin, CITIC Metal combines commodity trade execution with strategic upstream asset ownership. Its GTM motion is enterprise field sales targeting steel and mining majors, including Baowu Group (宝武集团), Wuyang Steel Company (舞阳钢铁公司), Hubei Xinyegang Steel, and Jiangsu Shagang Group.

CITIC Metal makes money through transaction-based commodity trading across niobium, copper, aluminum, iron ore, and steel, complemented by mining investment returns via offtake agreements (notably covering 70-80% of Kamoa-Kakula production) and equity appreciation. Pricing is quote-based and contract-negotiated rather than publicly disclosed. The 2023 acquisition of Nanjing Iron & Steel extended the company downstream into steelmaking ownership, and a planned $1.1 billion, 500,000-tonne annual capacity copper anode smelter with Ivanhoe Mines represents a meaningful move into processing value-add, projected to capture 50-60% more value per tonne than concentrate export models.

Name

CITIC Metal Co., Ltd.

Legal name

中信金属股份有限公司

Website

https://metal.citic.com

Company type

Public

Founded year

1997

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

CITIC Metal Co., Ltd. is a state-owned Chinese commodity trader and mining investor (SSE: 601061) under CITIC Group, specializing in niobium, copper, aluminum, iron ore, and steel trading, with minority equity stakes in world-class assets including Ivanhoe Mines, Las Bambas, and CBMM, serving major Chinese steel and mining enterprises.

Ownership category

akta.pro rank

Product category

Metals Commodity Trading

NAICS

Metal Service Centers and Other Metal Merchant Wholesalers (423510), Coal and Other Mineral and Ore Merchant Wholesalers (42352), Commodity Contracts Intermediation (52316)

SIC

Wholesale-Metals & Minerals (No Petroleum) (5050), Commodity Contracts Brokers & Dealers (6221), Metal Mining (1000)

akta.pro primary industry

Non-Ferrous Base Metals Trading (Aluminum, Copper, Zinc, Lead, Tin, Nickel) (IMAKAJAC)

akta.pro secondary industries

Concentrates & Intermediate Feedstocks Marketing (Concentrates, Cathodes, Anodes, Alumina) (IMAKAJAJ), Battery & Critical Minerals Trading (Lithium, Cobalt, Graphite, Manganese, Rare Earths) (IMAKAJAE), Precious Metals Trading, Marketing & Distribution (IMAKAEAH), Commodity Brokerage, Merchants & Structured Trade (Offtake, Prepay, Inventory/Collateral Mgmt) (IMAKAJAK)

Keywords

• Niobium trading
• Copper commodity trading
• Mining investment services
• Iron ore trading
• Aluminum commodity trading

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Others

Revenue model

1. Commodity Trading: Trading of commodities including niobium, copper, aluminum, iron ore, and steel products through direct commercial relationships with industrial customers.
2. Mining Investment: Equity investments in global mining assets including Ivanhoe Mines, Las Bambas Copper Mine, CBMM, and Western Superconducting, generating returns through production offtake and equity appreciation.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

CITIC Metal engages in the bulk commodity trading of niobium, copper, aluminum, iron ore, and steel products, serving as China's pioneer and leader in the niobium market and an industry-leading copper full industry chain trader. The company also holds strategic minority equity investments in world-class mining assets including Ivanhoe Mines (Kamoa-Kakula copper project in DRC), Las Bambas copper mine (Peru), CBMM (Brazilian niobium leader), Western Superconducting Technologies, and Zhongbo Shijin (precious metals), combining commodity trade execution with mining asset ownership across the global supply chain.

Product overview

CITIC Metal Co., Ltd. is a world-class commodity trader and mining investment company operating two main business segments: (1) Bulk Commodity Trading — covering niobium, copper, aluminum, iron ore, steel products, and other commodities, and (2) Mining Investments — including equity stakes in Ivanhoe Mines, Las Bambas Copper Mine, CBMM (Brazilian niobium leader), Zhongbo Shijin (precious metals), and Western Superconducting. The company functions as an integrated platform combining commodity trade execution with strategic mining asset ownership across the global supply chain.

Differentiator

Problem solved

Functional benefit

Brands

• Niobium Business: China's pioneer and leader in niobium market development and trading
• Copper Business
• Aluminum Business

Products and services

• Niobium (铌) Trading of niobium products for the steel and metallurgical industries. CITIC Metal is the pioneer and leader of China's niobium market, sourcing through its strategic partnership with CBMM (the global niobium leader).
• Copper (铜) Full industry chain copper commodity trading. CITIC Metal is an industry-leading copper full industry chain trader with equity stakes in two world-class copper mining assets, providing supply security for Chinese industrial customers.
• Aluminum (铝) Aluminum commodity trading across all aluminum varieties. CITIC Metal is committed to becoming an industry-first-class all-variety aluminum trader serving industrial customers in China.
• Iron Ore (铁矿石) Iron ore commodity trading serving Chinese steel manufacturers and metallurgical enterprises requiring bulk raw material inputs.
• Steel Products (钢材) Steel products commodity trading for downstream industrial customers and construction sector buyers requiring finished or semi-finished steel materials.
• Other Commodity Business (其他业务) Additional commodity trading business lines beyond the core niobium, copper, aluminum, iron ore, and steel categories.
• Ivanhoe Mines Investment (艾芬豪矿业) Strategic minority equity investment in Ivanhoe Mines, an internationally renowned mining company operating the Kamoa-Kakula copper complex in the Democratic Republic of Congo, with offtake agreements covering 70-80% of production capacity.
• Las Bambas Copper Mine Investment (邦巴斯铜矿) Strategic minority equity investment in Las Bambas, one of the world's largest copper mines located in Peru, supporting CITIC Metal's copper industry chain trading operations.
• CBMM Investment (巴西矿冶公司) Strategic equity investment in CBMM (Companhia Brasileira de Metalurgia e Mineração), the global leader in niobium products and technology, providing CITIC Metal with exclusive market access and technology transfer capabilities for niobium trading in China.
• Zhongbo Shijin Investment (中博世金) Investment in Zhongbo Shijin, a precious metals trading and investment business, extending CITIC Metal's commodity portfolio into gold and other precious metals.
• Western Superconducting Investment (西部超导) Minority equity investment in Western Superconducting Technologies, a company focused on superconducting materials, extending CITIC Metal's exposure to advanced materials sectors.

Quantifiable outcome

• Strategic offtake covering 70-80% of Kamoa-Kakula copper production capacity
• +1 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Ivanhoe MinescoreStrategic or Co-development Partner · 7 January 2026CITIC Metal has a strategic offtake agreement with Ivanhoe Mines covering 70-80% of production capacity from the Kamoa-Kakula copper complex in DRC. This $1.1 billion investment represents a transformational copper anode smelter with 500,000-tonne annual capacity, enabling CITIC Metal to capture 50-60% more value per tonne than concentrate export models.
• University of Science and Technology Beijing (北京科技大学)coreStrategic or Co-development Partner · 18 June 2024CITIC Metal partnered with University of Science and Technology Beijing and Central Iron and Steel Research Institute (钢铁研究总院) in a delegation visit to CBMM in Brazil. The collaboration focuses on niobium technology development and green metallurgy initiatives.
• Central Iron and Steel Research Institute (钢铁研究总院)minorStrategic or Co-development Partner · 13 June 2024Joint delegation with CITIC Metal and University of Science and Technology Beijing visited CBMM to review cooperation history and explore opportunities for green development in metallurgy.
• CBMM (Brazilian Metallurgy Company / 巴西矿冶公司)coreStrategic or Co-development PartnerCITIC Metal maintains a strategic partnership with CBMM as a major investor and commercial partner. CBMM is the global leader in niobium products. CITIC Metal collaborates with Chinese universities and research institutes to advance niobium science and technology, supporting China's steel industry transformation.
• Baowu Group (宝武集团)coreStrategic or Co-development PartnerCITIC Metal and CBMM leadership jointly visited Baowu Group in June 2024 to strengthen strategic cooperation in metallurgy and niobium applications.
• Hubei Xinyegang Steel Co. Ltd.minorStrategic or Co-development PartnerSubsidiary of CITIC Ltd. (parent company) acquiring controlling stake in Nanjing Nangang Iron & Steel from Fosun International for approximately 13.58 billion yuan ($2 billion), demonstrating intra-group collaboration in steel sector investments.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Regional players

• Jiangxi Copper Corporation: China's largest copper producer and integrated copper trader. Comparable focus on copper value chain, though more vertically integrated upstream rather than trading-and-stake hybrid model.
• Aluminum Corporation of China (Chinalco): Major Chinese state-owned aluminum producer and trader. Comparable Chinese SOE peer in aluminum trading segment and broader non-ferrous metals portfolio.
• China Hongqiao Group: Largest Chinese aluminum producer and trader. Comparable Chinese aluminum trading focus and downstream steel/customer relationships.

Direct peers

• Glencore: Global commodity trader and mining investor with integrated trading and equity stakes in copper, zinc, and other base metals. Most direct comparison as a publicly listed trader-miner hybrid with global asset portfolio.
• CMOC Group: Chinese mining company with major overseas copper and cobalt acquisitions (including a $1.015B Brazilian gold mine). Comparable Chinese SOE pursuing similar critical minerals investment strategy in Latin America and Africa.
• Trafigura: World's largest privately-held commodity trader with significant base metals and bulk commodities focus. Direct competitor in physical metals trading and offtake structuring.
• Mercuria Energy Trading: Global commodity trader active in base metals, bulk minerals, and energy. Comparable scale trader competing for similar supply agreements and customer relationships.
• China Minmetals Corporation: Chinese state-owned commodity trader and metals group with similar SOE structure, broad metals trading portfolio, and mining investments. Closest direct domestic peer given comparable scale and ownership structure.
• IXM (formerly Louis Dreyfus Company Metals): Global base metals trader owned by Chinese conglomerate (CMIG). Comparable metals trading platform competing for similar offtake flows and customer relationships.

Broad incumbents

• Anglo American: Global diversified mining major with copper, iron ore, and other metals. Partner-counterparty to CITIC Metal through offtake relationships and broader metals market context.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CITIC Metal Co., Ltd.