Key facts
- Cargill is in talks to sell its metals unit to Macquarie Group.
- The potential sale is part of Cargill's strategy to focus on food and agriculture.
- Cargill's metals unit trades iron ore and steel.
- Cargill previously sold its petroleum business to Macquarie in 2017.
- The sale has not yet been announced and is not guaranteed to conclude.
Cargill, a major global trading house, is reportedly in discussions to sell its metals unit to Macquarie Group. Five sources with knowledge of the matter revealed the ongoing talks, speaking anonymously as the sale has not yet been announced and they are not authorized to speak to the media. This potential divestment is part of Cargill's strategic effort to sharpen its focus on its core food and agriculture operations. Cargill's metals unit, headquartered in Singapore, trades 60 million to 70 million metric tons of iron ore and 4 million tons of steel annually with around 130 employees. The potential spin-off comes at a time when the outlook for iron ore prices is uncertain due to falling demand in China. Cargill exited physical steel trading in China in 2024 and streamlined its business units. In 2017, Cargill sold its petroleum business to Macquarie Group. The sources cautioned that the discussions are not guaranteed to result in a deal. Cargill and Macquarie Group both declined to comment.