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Metals Trader Concord Doubles Profit Due to Aluminum Chaos

From bnnbloomberg.ca

Concord Resources Ltd.’s profit doubled last year as the metals trading startup benefited from the turmoil in aluminum and alumina markets following sanctions on Russian producer United Co. Rusal. “It was a year of exceptional opportunities,” Chief Executive Officer Mark Hansen said in an interview in London. “The sanctions on Rusal created disruptions across the aluminum and alumina supply chain and we were able to execute on those opportunities outstandingly well.” Concord, which was founded in 2015 by a group of former Noble Group Ltd. traders with private equity backing, saw net income rise to $43.4 million last ... (full story)

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