Trafigura takes $72 million Nyrstar impairment, posts robust profits for 2018

Trafigura has written off $72 million of the equity value of its stake in zinc and lead smelting company Nyrstar, it said in its annual results on Monday December 10, while detailing growth in base metals trading volumes.

Trafigura’s 24.4% shareholding in Nyrstar is valued by the company at $35 million compared with $96.3 million for its 24.6% interest a year ago.
Nyrstar’s share value has collapsed by 90% since the start of the year; falling zinc prices have limited profits while the company needs to repay €340 million ($388 million) of bonds due in September 2019.

The London Metal Exchange three-month zinc price is down by 26%...

Published

Archie Hunter

December 10, 2018

14:16 GMT

London