Trafigura, the commodities trader, earned about $1bn for the second year running in 2012, indicating that the profitability of the world’s top houses that dominate raw materials has remained high in spite of slower economic growth in China.
The privately held company, based in Geneva and Singapore, has told its lenders and bondholders it made profits of $991.9m in the year to September, down 11 per cent from last year’s record $1.11bn.
Trafigura is the world’s second largest independent metals trader, after Glencore, and the third-largest oil trader behind Vitol and Glencore. The company does not release its accounts publicly.
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