Enrico Crovetto / SPARK ENERGY RESOURCES SA

What is your company’s core activity? What are your main markets (countries/areas)?

Spark Energy Resources’ main focus now is on supplying raw materials to the steel industry, in particular Metallurgical coke – which is the company’s core product – as well as coking coal, PCI, anthracite and steam coal for the sponge iron industry in India.

Our company has representative offices in Europe, Asia and South America and is therefore an active market player in most of the markets.

From your perspective, how does your industry perform and what is the market outlook?
The usage of coal and coke in the steel industry in Europe had declined in recent years due to the lower steel production, but this decline is not as pronounced as that of our “cousins” in the Energy sector, owing to the fact that most of these products are simply difficult to substitute due to the key chemical and physical properties required for the steel production in the traditional Blast Furnaces. Having said that, there is an undoubtedly downward trend due to the focus on “Green Steel” production.

Just as for Steam coal, the use of Metallurgical coke (and all steel-related raw materials) outside of OECD countries remains robust and on the rise, as seen by the recent addition of new production capacity. Carbon-related raw materials (for both the Power and Steel sectors) will continue to rise in the coming years, especially in Asia.

What are the advantages of having your headquarters in / operating from Lugano, Switzerland?
Even if Switzerland has lost some of its attractiveness over the years, it remains a safe haven for trading companies due to its stability and access to the banking sector. As an Italian, I believe Lugano is strategically positioned and offers a very good overall compromise when compared to other Cantons in central Switzerland, even if from a fiscal perspective there could be room for improvement.

Give a brief description of why you joined LCTA.
I think that LCTA provides a good networking environment; even though I know most of the people involved in coal trade in Ticino, it still offers a chance to meet new people from other industries and share diverse experiences. I think it is a very efficient vehicle for not only promoting the City but also helping it expand as the third trading hub after Zug and Geneva.