Trader IXM will shrink aluminium unit to focus on core business

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, “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.