Gunvor Pulling Back From Metals Trading After Profits Slump
- Top trader Rene Van Der Kam has left the firm, company says
- All or most of warehousing business will be liquidated
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Gunvor Group Ltd. is getting out of the metals-trading business and its top trader Rene Van Der Kam left the firm amid a global slump in commodity prices.
“Profitability was decreasing, while risk was increasing,” Seth Pietras, a Gunvor spokesman in Geneva, said by phone.