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Standard Bank closes steel desk

Keywords: Tags  Standard Bank, steel, steel trading, Daisy Tseng

SINGAPORE — Standard Bank Group Ltd. has decided to shut down its steel desk.

A spokeswoman for the bank told AMM sister publication Steel First that the Johannesburg-based bank made the decision in November 2012, when it conducted a general staff redundancy exercise across its international business.

"We kept a skeleton crew in order to run a few positions, and we have since that time ceased any new business in steel," she said, adding that the closure of the steel desk won’t affect any of the bank’s other business.

A version of this article was first published by AMM sister publication Metal Bulletin.

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