Global commodities trader Cargill is in discussions to sell its metals business to Australia’s Macquarie Group, according to a Reuters report citing sources familiar with the matter.
The potential divestment comes as Cargill continues to focus on its core food and agriculture operations.
Cargill’s Singapore-based metals unit trades 60-70 mln tons of iron ore and approximately 4 mln tons of steel annually. The move follows Cargill’s decision to exit physical steel trading in China in 2024 amid weakening demand linked to the country’s prolonged property sector downturn. The company has also streamlined its operations in recent years as part of a broader strategic restructuring.