According to a new report from Oliver Wyman, commodity traders saw record gross margins of about $115 billion last year.
According to the report, industry gross profit margins have roughly tripled from $36 billion in 2018, with those of independent trading houses now far outstripping others in the sector.
“Hedge funds more or less left commodities after 2010-2011, but over the last two to three years they’ve really built up their capabilities in a return to the market, and quite successfully so,” said Ernst Frankl, who leads Oliver Wyman’s global commodity trading and risk practice.
