The Covid-19 pandemic continues to impact on commodity markets, Hong Kong-based trader Noble Group said on Friday, reporting an after-tax loss of $331-million in the first six months of the year.
“Trading during the period was dominated by Covid-199, which continues to impact our markets and disrupt global supply chains across our business,” chairperson Jim Dubow said on Friday.
Group revenues were proportionally lower at $1.46-billion, owing to the depressed market conditions.
However, Noble had witnessed “some” recovery in the second quarter and its overall trading volumes in the first half increased by 36% year-on-year, driven by the energy segment with consistent volumes in the freight business.