SÃO PAULO NGX International Corp., a new trading firm based in Florida, has been focusing on "niche" Latin American steel markets not usually targeted by major trading companies, owner Nelson Gonçalves said.
Gonçalves, a former trader at Cherepovets, Russia-headquartered OAO Severstals Miami-based Latin American trading office, decided to open his own company catering to small and medium-sized distributors and industrial customers in several of the regions countries.
"I thought there was a good opportunity in some markets in Latin America, where customers could have a more personalized service," he told AMM sister publication Steel First.
Customers from traditional importing countries such as Brazil and Chile have been buying steel through NGX, but the company also has been dealing with buyers in places such as Uruguay, Guyana and Suriname. "Weve been also focusing on Central America," Gonçalves said.
NGX has been mainly handling wire rod, bar, hot-dipped galvanized coil and special bar, most of it from major suppliers such as China, India and Turkey, as well as South Africa.
The company is based in Miramar, Fla., close to Miami. "From Miami we have flights to the whole (of) Latin America," Gonçalves said. "It is cheaper flying from here to, say, Manaus in northern Brazil than from São Paulo or Rio de Janeiro."