The world’s metal traders are enjoying their most profitable ever year, after a series of supply upheavals propelled prices toward record highs and drove huge shifts in metal moving across the globe.
Glencore Plc and Trafigura Group, which have long competed as the two largest players, are both on track for their best year for metal trading, according to people familiar with the matter. IXM, the third-largest metals trader, has already surpassed last year’s profit and will report its third consecutive record year, according to Chief Executive Officer Kenny Ives.