Serial entrepreneur Hector Sosa Flores discusses the effect, both good and bad, of COVID-19 on the precious metals industry.
SAN DIEGO, CA / ACCESSWIRE / March 2, 2021 / In a recent article, Hector Sosa Flores examines global commodities trading, specifically the precious metals sector, including the impact on workers, profits, and consumer demand.
Flores is the founder and CEO of Axios Group, LLC, a focus commodity company founded on the promise of providing reliable precious metal and food commodity dealing while maintaining honest prices, exceptional customer service, and on-time delivery. The company both buys and sells products, including soy and coffee beans, wine, rock salt, meat, frozen fruit pulps, sugar, gold, silver, palladium, and platinum.
Under Flores' experienced leadership, Axios Group has grown to be one of the largest gold consolidators in America while also managing a mine in Brazil.
According to Flores, "The precious metals industry is experiencing some turmoil…which isn't surprising, but it is actually beneficial for some operators." Fortunately for some, companies that use open-pit mines are experiencing lower energy costs amid the pandemic. "The cost to extract precious metals has decreased, while the overall price and demand for the product remains high," he exclaims.
Of course, not all companies are experiencing the same positive effects. The precious metals industry comprises several companies that vary in size, geography, and business model. Understandably, each firm will experience a slightly different outcome stemming from the outbreak.
However, these differences go beyond the cost of extraction. The article notes that supply shortages, travel restrictions, increased health and safety measures on mining sites, and lockdown restrictions are just some of the challenges hindering production. Flores also adds that underground mines are enclosed spaces that provide ideal conditions for virus transmission.
Ultimately, businesses in all sectors must continue to abide by regulations and do everything in their power to protect workers from the outbreak till the COVID-19 pandemic is behind us.
To learn more about how commodities trading is being affected by COVID-19, you can read Hector Sosa Flore's full article here.
If you are interested in the import and export services offered by Axios Group, LLC, please visit their official website linked here.
About Hector Sosa Flores
Hector Sosa Flores attended Boston University, where he excelled in the subjects of political science and finance. After graduation, he went on to study at the Universidad Complutense de Madrid to study International Diplomacy and earned a law degree from the San Diego School of Law. Initially inclined to follow in his father's footsteps, he spent five years working at his father's law firm. However, motivated to acquire even more skills and follow his passions, Flores obtained three more certifications in entrepreneurial essentials, business finance, and negotiation from the elite Harvard School of Business.
For three years, he operated a successful foreign exchange commodity trading company, and in 2013 he founded Axios Group, LLC. Over the years, he has transformed Axios Group to become one of the leading gold consolidators in the U.S. Moreover, his firm works with other food commodity and precious metal dealers to provide clients with the best value and services. Today, he is also the proud owner of Code Loft, LLC, a company that offers clients digital solutions, including website design and marketing.
SOURCE: Axios Group, LLC