Ascorp Group: Forging Lucrative Pathways in the Metals Trade

Rishab Jhunjhunwala

Director

Rishab Jhunjhunwala

Director

In the world of global commerce, few industries carry the weight of history and future potential quite like metals and commodities. This sector is at the intersection of the needs and the opportunities as it contributes to developing the foundation of the infrastructure as well as becoming a force of modern innovation. However, behind the markets and figures is a constant act of balance between supply, demand, and the ability to respond to the changing global trends.

It is against this backdrop that Ascorp Group was born in 2011 in Singapore by Ajay Jhunjhunwala whose strong background in the steel trade formed the basis of the venture. The history of the company, however, goes even deeper. Having roots in a family business of steel smelting in Chennai, the company was founded on the ground of first-hand experience with the realities of the metals industry.

Initially, the company dealt with trading in India, but the restrictive regulations soon prompted it to seek a way out. Incorporation in Singapore created an opportunity into multi-country trade, marking the first step in what would become a steadily growing international presence.

Building Trust through Specialization

The company is not only distinguished by the breadth of its operations but the richness of the relationships. It slowly diversified its operation into other markets like Pakistan, Bangladesh, Korea, and Malaysia. Although the metals trade is crowded with players, Ascorp managed to carve a niche for itself with a combination of specialization and commitment.

Instead of seeking opportunities in transaction deals, the company developed long-term associations with buyers who depend on it as a consistent supply. This trust created a model where nearly a third of its clientele remained fixed and committed a rare stability in an otherwise volatile industry.

The company also adopted the differentiation strategy. In addition to general trading, it also specialized in high-value alloys like titanium, cobalt, and tungsten. These products require precision in packaging, grading and supply, which is tailored to the specific needs of individual customers. This change is echoed through the establishment of a yard in Dubai's Jafza, where scrap is converted into highly-specific products through specialized handling.

“By doing so, Ascorp is not merely fulfilling the needs of the customers but also generating value addition in a market that has always been dependent on bulk trade”, says Rishab Jhunjhunwala, Director, Ascorp Group.

Adapting to Shifts & Challenges

In every industry, there are challenges and the metals trade industry is not an exception. Since the 2008 financial crash up to the COVID-19 upheaval, the industry has had to deal with uncertainty several times. More recently, global tariffs added another layer of unpredictability, often leading to cautious buying. At Ascorp, these issues were solved with resilience, mainly due to diversification, hedging strategies, and strong client and supplier relationships.

To mitigate risks, the company hedges high-value commodities such as copper in the London Metal Exchange. This practice, once less common in the industry, enabled it to safeguard against financial shocks. Equally important is its strong adherence to credibility: no pending accounts, no unresolved claims, and the focus on solving problems swiftly and fairly. “In an industry where conflicts may easily destroy trust, this approach has become one of the strongest assets of the company”, notes Harsh Srimal, Manager (Business Development), Ascorp Group.

We are not merely fulfilling the needs of the customers but also generating value addition in a market that has always been dependent on bulk trade
Rishab Jhunjhunwala, Director

Another thread that is woven in the company’s operation is sustainability. While transportation remains a challenge for carbon reduction, the very act of recycling metals contributes meaningfully to lowering the industry’s footprint. Furthermore, the transition to digitization has also minimized the use of paper, which is a minor though significant move toward responsible actions.

Looking Beyond the Horizon

The future of Ascorp is still geared towards growth and diversification. The development of the high alloys yard in Dubai is set to enhance its capabilities in serving niche markets with specialized needs. In addition to this, the company is venturing in minerals like manganese ore and zinc ore, including long-term deals with mines which guarantee supply as well as stability.

The roadmap is clear: to go beyond the unpredictability of day-to-day trading towards strategic alliances and integrated supply chains. In an industry where accessibility and transparency have leveled the playing field, the path forward lies in deeper collaborations and value-driven differentiation. “The next chapter for us is not only about growing presence but establishing Ascorp as a reliable collaborator in a constantly evolving global trade landscape”, concludes Rishab.

Rishab Jhunjhunwala, Director, Ascorp Group

Rishab Jhunjhunwala is one of the Directors of Ascorp Group, a pioneering force in the global recycling and metals trading industry. He joined the company, founded in 2011 by his father, Ajay Kumar Jhunjhunwala, after completing his Master’s degree from the University of Texas.

Since then, Rishab has led with an unwavering commitment to integrity, innovation, and sustainable value creation. His forward-thinking approach and ability to transform challenges into opportunities have been instrumental in steering Ascorp’s evolution from a modest start-up into a respected international enterprise.

Driven by his passion for sustainability and customer-centric excellence, Rishab continues to inspire his team to pursue growth that not only strengthens the business but also contributes positively to the environment and the global circular economy.