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Chocolate fans in Japan, among Asia’s biggest cocoa buyers, are heading for a sticker shock later this year as an unprecedented surge in cocoa prices finally filters through to stores.
(Bloomberg) -- The world’s two biggest metals traders are moving to withdraw large volumes of aluminum from the London Metal Exchange in a complex trade made possible by new UK sanctions on Russian metal, raising questions about unintended consequences from the new rules.Most Read from BloombergTraders Are Cashing Out of Markets En MasseNew York’s Rich Get Creative to Flee State Taxes. Auditors Are On to ThemMagnificent Seven Earnings Arrive With Stocks at Critical MomentElon Wants His Money Bac
(Bloomberg) -- Trafigura Group has fired the starting gun on an era of upheaval at the top of the commodity trading world, with some of the biggest players preparing a new generation of leaders at a moment of heightened scrutiny for the industry.Most Read from BloombergSaudis Scale Back Ambition for $1.5 Trillion Desert Project NeomTurkey Joins NATO Allies in Suspending Europe Arms TreatyMark Zuckerberg’s Wealth Exceeds Elon Musk’s for the First Time Since 2020Iran Tells US to Step Aside as It R
(Bloomberg) -- Trafigura Group is facing sizable losses related to its oil activities in Mongolia, according to people familiar with the matter, in a fresh blow for the company that has risen to become one of the world’s top commodity traders.Most Read from BloombergJapan Loses Its Spot as World's Third-Largest Economy as It Slips Into RecessionPutin Steps Into US Race to Back ‘Old-Style’ Biden Over TrumpDozens of Banks Rapidly Piled Up Commercial Property LoansHawaii Rightly Rejects Supreme Cou
Magnitogorsk, in the Ural mountains, was developed as a symbol of Soviet industrial might and its capacity for economic modernization. Today, a new, 75 billion-ruble (roughly $840 million) coking plant in the steel town is being built by a Chinese engineering giant and hundreds of Chinese workers. The contract between Magnitogorsk Iron & Steel Works PJSC, known as…