Alfred Cang

One of Radiant World’s lenders reported suspected fraud involving the iron ore trader to Singapore police in May, months before the company’s troubles erupted publicly, according to a court ruling.

One of Radiant World's lenders reported suspected fraud involving the iron ore trader to Singapore police in May, months before the company's troubles erupted publicly, according to a court ruling.

Radiant World is cutting staff beyond its core iron ore business after a Singapore court last week took control of the troubled commodity trader away from its founder.

Hao Dong, a former commodity portfolio manager at Singapore’s sovereign wealth fund GIC Pte., is starting a hedge fund that is seeking to raise as much as $300 million to invest in raw materials and other assets.

Chinese fuel exporters have canceled some oil-product cargoes slated for export in October, as Asia’s top consumer prioritizes domestic supply during an extended period of upheaval in global energy markets.

Some employees of Radiant World say they have not received their September salaries, an apparent delay that offers a glimpse of disruptions inside the iron ore trader as its operations are transferred to the care of court-appointed managers.

CNGR Advanced Material Co. is in talks to acquire a major Indonesian nickel plant, a move with the potential to transform the battery materials producer into one of the biggest players in the country’s smelting industry.

Zijin Mining Group’s Bisha copper-zinc mine in Eritrea has suspended ore processing since last week amid a fuel shortage, with clients being informed of potential delays in shipments.

Yaoyao Liu, whose trading in oil derivatives made billions of dollars for Vitol Group over a career marked by dramatic highs and lows, is leaving the commodities trading giant.

Metals traders are earning billions of dollars in a second consecutive blowout year for the sector, with several top trading houses notching up record profits.