Trafigura has purchased a sizeable amount of rival merchant Cliveden's copper trading book, increasing what was already said to be the world's biggest copper trading book by volume.
The relevant parties have been in discussions for weeks on a deal, which was tabled after Zug-based Cliveden contacted trading houses for assistance in financing copper concentrate cargoes, multiple sources confirmed.Sources with direct knowledge of the dealings declined to disclose the value of the deal...