📢 Flash
Metal trading is experiencing one of the most profitable periods in history, with multiple traders reporting income hitting career highs.
Global metals trading saw another explosive surge in profits on October 25—marking the second consecutive year of such extraordinary gains. Several top-tier traders set new profitability records, propelling metals traders’ collective earnings into the billions of dollars.
For the fiscal year ended September, Trafigura—locked in a fierce battle with Glencore for the title of world’s largest metals trader—generated approximately $2 billion in profit from its metals trading business, its highest-ever figure. Glencore also posted one of the strongest profitability performances in its history, though its overall results were weighed down by a $480 million provision tied to its exposure to iron ore trader Radiant World.
The mood was euphoric at this year’s London Metal Exchange Week (LME Week), which wrapped up Friday—the industry’s most important annual gathering—fueled by record-breaking profits and an unrelenting flow of champagne. Multiple metals traders confided privately that they’re currently at the peak of their personal earning trajectories; simultaneously, they report receiving frequent job offers—not only from rival firms but also from newly entering institutions eager to capture a share of the metals market’s booming prosperity.
According to sources familiar with the matter, Vitol—the world’s largest commodities trader—is accelerating its expansion into metals trading, with profits from the segment expected to exceed $100 million this year—significantly higher than last year’s, though still short of peers like Mercuria.
For the fiscal year ended September, Trafigura—locked in a fierce battle with Glencore for the title of world’s largest metals trader—generated approximately $2 billion in profit from its metals trading business, its highest-ever figure. Glencore also posted one of the strongest profitability performances in its history, though its overall results were weighed down by a $480 million provision tied to its exposure to iron ore trader Radiant World.
The mood was euphoric at this year’s London Metal Exchange Week (LME Week), which wrapped up Friday—the industry’s most important annual gathering—fueled by record-breaking profits and an unrelenting flow of champagne. Multiple metals traders confided privately that they’re currently at the peak of their personal earning trajectories; simultaneously, they report receiving frequent job offers—not only from rival firms but also from newly entering institutions eager to capture a share of the metals market’s booming prosperity.
According to sources familiar with the matter, Vitol—the world’s largest commodities trader—is accelerating its expansion into metals trading, with profits from the segment expected to exceed $100 million this year—significantly higher than last year’s, though still short of peers like Mercuria.
