The move was said to have been triggered by Traxys’ credit insurer, Coface, refusing to insure those products beyond the end of this year. Traxys reportedly has stopped spot trading in the affected metals already.
“They are basically shutting most of their base metals operations,” a source close to Traxys said.
But other sources indicated that Traxys’ aluminium and copper trading in the US will not be affected, and some buyers reported purchasing lead from Traxys within the...
