US commodities giant Cargill Inc. is considering the sale of its metals and energy businesses as it is restructuring its core activities, according to the Wall Street Journal.
“The company is exploring sales of the units as part of a strategic review of those businesses, which still is in its early stages. Cargill may not end up selling the businesses,” stated the Wall Street Journal.
Cargill trades around 40 million mt of iron ore and 5.5 million mt of steel per year (including its international steel sales and domestic steel distribution in China and the US), while it also trades 200 million mt of iron ore and steel derivatives. The company has nine steel service centers in China and the US and more than 2,500 customers across 40 countries.