Metal traders reap extraordinary profits for a second consecutive year
Metal traders are chaining a second exceptional year, with several of the leading trading firms posting record profits. Trafigura made about US$2 billion in metals in its fiscal year ended in September, according to people familiar with the matter, and Glencore also booked some of the largest profits in its history, although its overall results were hit by a US$480 million provision tied to Radiant World. Mercuria is on track to match or exceed last year's US$300 million and IXM is heading for a record year.
In 45 seconds
- Trafigura earned about US$2 billion in metals trading in its fiscal year ended in September, according to sources cited by Bloomberg
- Glencore posted some of the largest profits in its history, with a US$480 million provision for its exposure to Radiant World
- Mercuria is on track to match or exceed last year's more than US$300 million and IXM is heading for a record year
Read the full story at Bloomberg Línea
IASummary generated by artificial intelligence from a story by Bloomberg Línea. It may contain errors: the original source prevails.
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