Gerald Metals withdraws from physical Steel Trading Business

SMM, Sept. 3: us-based Gerald Metals today announced its withdrawal from its physical steel business. Competitors said the business was led by Michael Bienz (Michael Bienz), a senior steel trader who has now left the company. Neither Gerald Metals nor Michael responded to requests for comment. Although the steel trading environment has become more and more difficult recently with the rise of trade protectionism and the decline in net steel trade, the main reason is reported to be the lack of terminal hedge markets in the steel industry.

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