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Toyota Tsusho looks to expand trading in NY

Keywords: Tags  Toyota Tsusho, Toyota Group, New York trading, aluminum, copper, tin, nonferrous, Michael Cowden

CHICAGO — Toyota Tsusho Corp. is looking to expand its nonferrous metals trading operations in New York, according to market sources.

The move comes as the trading house explores the possibility of changing its business model in the United States from one that is mostly customer-oriented—supplying Toyota Group companies, for example—to one that is geared more toward trading, sources said.

In the United States, Toyota Tsusho would focus on trading aluminum, copper and tin, the three main metals that the company now trades out of its offices in Japan, sources said.

But market observers also stressed that the Nagoya, Japan-based company hasn’t made any firm decisions and is exploring its options at present.

If realized, the move would mark a return for Toyota Tsusho, which had previously operated a more trade-oriented book out of New York.

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