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Energy Trading Companies: Vitol Group, Gunvor Group and Mercuria Energy Group are among the traders building out their metals teams, as they look to deploy capital generated by record profits.
(Bloomberg) -- Some of the world’s biggest energy trading companies are returning to metals, years after getting burnt in the notoriously difficult markets.Most Read from BloombergTaylor Swift Is Proof That How We Critique Music Is BrokenBiden’s New Chopper Is Demoted After Scorching White House LawnTesla Speeds Cheaper EV Plans, Calming Fears Over StrategyBillionaire Pinaults Fight to Pull Gucci Off the Discount RackRay Dalio’s Famous Trade Is Sputtering, Investors BailingVitol Group, Gunvor Gr
The shift comes as forecasters turn increasingly bullish on copper, aluminum and other metals, where long-anticipated production shortfalls are starting to take shape. Many commodities houses also see strong links between metals usage and power markets - another growth area for traders.
LONDON: The world’s metal traders are enduring one of their toughest periods in years, even as an international race for minerals thrusts the industry into the geopolitical spotlight like never before.
Guvnor Group Ltd is set to return to the metals trading business after seven years on the sidelines.