Trader IXM Will Shrink Aluminum Unit to Focus on Core Business [Financial Post (Toronto, Ontario, Canada)]
GLENCORE PLC UNSP/ADR (GLNCY)
US:NASDAQ Investor Relations:
glencore.com/investors
Company Research
Source: Financial Post
(Bloomberg) — IXM, the trading house owned by Chinese miner CMOC Group, is stepping back from the aluminum market to focus on its core business. The trading house, the third-largest metals trader behind Trafigura Group and Glencore Plc, “has decided to proactively downsize its aluminum business in 2024,” a spokesperson said in an emailed statement. The decision will lead to some redundancies, while some staff from the aluminum division will be rotated to other roles within the company. Article content Article content Metals traders have struggled in the past two years amid lackluster industrial demand and sluggish markets, while their peers in energy and agriculture markets have racked up record profits. Aluminum traders, who compete with banks to finance large volumes of metal, have been particularly hard hit by the rise in interest rates. IXM is a key link between the Chinese battery industry and the world, and Chief Executive Officer Kenny Ives has sought maximize the tr
Show less
Read more
Impact Snapshot
Event Time:
GLNCY
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
---|---|---|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
Last Price | ||
VWAP | ||
High:
|
Max Up |
High:
|
Low:
|
Max Down |
Low:
|
%
|
Post news range |
%
|
|
Price change |
|
|
Price Change Percentage |
|
|
S&P 500 (SPX) |
|
%
|
Volume ratio |
%
|
Volume | ||
Ticks | ||
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
GLNCY alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
GLNCY alerts
High impacting GLENCORE PLC UNSP/ADR news events
Weekly update
A roundup of the hottest topics
GLNCY
News
- Jean-François Verret appointed to head Raglan Mine [Yahoo! Finance]Yahoo! Finance
- Jean-François Verret appointed to head Raglan MinePR Web
- A Dubai Firm Pledged $13 Billion for 20 Years of South Sudan Oil [BNN Bloomberg (Canada)]BNN Bloomberg
- Statement from AWU regarding Mt Isa incidentPR Web
- Viterra partners with Foodgrains Bank for ninth consecutive year to help end hunger [Yahoo! Finance]Yahoo! Finance