Trafigura says metals rally now more than a China story; hits record H1 profits

Commodities trading house Trafigura believes a slowdown in Chinese demand growth for metals will fail to dent rising prices, while also announcing record profits in the first half of 2021.

"What's perhaps most striking about the recovery in metals demand is that, for the first time in at least a decade, this is not just a China story," Trafigura's chief economist Saad Rahim said.

"If fact, if anything, China's demand has been a bit softer than anticipated. But this has more than been made up for by demand across the rest of...

Published

Archie Hunter

June 10, 2021

12:16 GMT

London