The stock price of global trading company STX is on the rise. The news that the world's first global business-to-business (B2B) digital platform, ‘TrollyGo,’ which will be launched on the 22nd, has successfully completed a trilateral trade test involving nickel and stainless steel between Japan and Dubai appears to be influencing the stock price.
As of 11:47 AM on the 20th, STX is trading at 15,760 KRW, up 12.57% from the previous trading day.
TrollyGo is a raw materials and industrial goods B2B platform created by consolidating STX’s over 50 years of trading experience and big data. It provides a total trade solution encompassing sourcing, sales, trade, forwarding, and finance for domestic and international companies, embedding all trade transaction processes within the platform. Given the large transaction amounts in B2B raw materials digital trading, the platform’s expertise and reliability are essential. An STX official introduced, "Through a digital finance partnership with Shinhan Bank, we have stably operated same-day overseas remittance receipt services jointly developed, thereby strengthening the reliability of trade payment."
Earlier, STX CEO Park Sang-jun announced plans to focus on diversifying raw material supply chains and integrating trade transaction B2B platforms at the entire group workshop held on the 10th and 11th.
CEO Park emphasized, "STX will take the lead in transforming traditional trade transactions, which relied on offline networks, into an easy, convenient, and fast paradigm. TrollyGo will be the world’s first B2B digital trade transaction platform."
He also mentioned plans for global supply chain diversification. He stated, "With the implementation of the U.S. Inflation Reduction Act (IRA) and China’s graphite export control measures in response, concerns over the global supply chain of key mineral resources and raw materials are intensifying. STX will turn the crisis faced by the global industry in the era of resource wars into an opportunity by building a broader and denser supply chain."
STX, which launched its raw materials business with a stake investment in the Ambatovy nickel mine in Madagascar in 2006, secured trading rights for graphite and vanadium in Mozambique in 2019. This year, in August, it established a corporation and joint venture (JV) in Indonesia, the world’s top country in nickel reserves and production. This month, it signed agreements for the development and sales rights of lithium mines in Peru and Brazil.
CEO Park envisions controlling the entire value chain of major mineral resource trading, including mining, refining, smelting, transportation, and sales, through supply chain diversification. He emphasized, "We will clearly position ourselves as a raw materials trading specialist not only in Indonesia but also in South American regions such as Peru and Brazil, known as ‘lithium-rich countries.’ Ultimately, we will also explore ways to expand our influence from downstream to upstream industries."
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