{"id":4113,"date":"2024-03-19T17:31:02","date_gmt":"2024-03-19T16:31:02","guid":{"rendered":"https:\/\/a2kadvisory.com\/?p=4113"},"modified":"2024-03-19T17:46:53","modified_gmt":"2024-03-19T16:46:53","slug":"global-commodity-trading-profits-topped-100-billion-for-second-best-year-ever","status":"publish","type":"post","link":"https:\/\/a2kadvisory.com\/fr\/2024\/03\/19\/global-commodity-trading-profits-topped-100-billion-for-second-best-year-ever\/","title":{"rendered":"Global commodity trading profits topped $100 billion for second-best year ever"},"content":{"rendered":"
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Intelligence\u00a0Markets\u00a0Asia\u00a0Europe\u00a0USA\u00a0Copper\u00a0Oil & Gas\u00a0<\/span><\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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The commodity trading industry reaped its second-best year ever in terms of profits, banking over $100 billion and building up a mountain of cash to spend on assets and breaking into new markets.<\/p>

While earnings fell from 2022\u2019s blockbuster records, profits across the sector still easily eclipsed prior highlights such as in 2008-2009, according to analysis from consultancy Oliver Wyman LLC.<\/p>

\u201cWe saw pretty good margins overall and that is practically because things continue to be a little bit tight on the supply-demand side,\u201d consultant Adam Perkins said in an interview.<\/p>

Results for many players across the industry are not yet public, but profits at the biggest independent trading houses are expected to show an average drop of over 30% from 2022\u2019s record levels, the report shows.<\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Still, disruptions and supply shortages of diesel and fuel oil offset lower Russia-related volatility in crude oil, while margins trading gas and power also remained relatively high.<\/p>

The firms that buy, store and ship the world\u2019s resources are coming out of what was the most profitable period in their history with a huge war chest to cement their role as strategic providers of energy, metals and food as the West continues a stuttering transition away from fossil fuels \u2014 demand for which continues to grow the world over.<\/p>

They\u2019ve already bought oil refineries, storage assets, power plants, and even other trading companies, while receiving large amounts of backing from countries like Italy, Germany, the US and Saudi Arabia to guarantee supplies of essential commodities like gas and copper.<\/p>

\u201cTraditionally this position in energy security wouldn\u2019t have been held by an independent trader,\u201d Perkins said, but they\u2019re being \u201cdrawn into that role.\u201d<\/p>

Meanwhile, through share buybacks and dividend pay-outs, the executives who own shares or are partners in these mostly private companies, have also become multi-millionaires in the process. That\u2019s helping accelerate a shift at the top of some of these firms\u2019 as minted traders retire, passing management on to a new guard.<\/p>

\u201cI think it\u2019s a great opportunity for those people who are coming in, it\u2019s also a little bit nerve wracking \u2013 there\u2019s an increased amount of scrutiny \u2013 everyone wants to continue the legacy,\u201d said Perkins.<\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Source : mining.com<\/a><\/p><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"

The commodity trading industry reaped its second-best year ever in terms of profits, banking over $100 billion and building up a mountain of cash to spend on assets and breaking into new markets.<\/p>","protected":false},"author":1,"featured_media":4123,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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Global commodity trading profits topped $100 billion for second-best year ever<\/a><\/blockquote>