Mercuria Pares Vast Aluminum Bet That’s Roiled Market for Months

Mercuria Energy Group has pulled back from a giant aluminum trade that drew scrutiny from the London Metal Exchange, according to people familiar with the matter.

The energy trader had built up a huge position in aluminum on the LME earlier this year, in part as a bet that a peace deal to end the war in Ukraine could lead to a relaxation of sanctions against Russian metals.