Mercuria Trader Who Built Huge LME Aluminum Bets Has Left

Sonny McNess, the veteran trader who helped build such massive aluminum positions at Mercuria Energy Group that the London Metal Exchange was forced to adjust its rules, has left the trading house.

Until recently a relatively minor player in metals, Mercuria’s aggressive trading over the past year has rocked the market, with the company’s aluminum position on the LME at times exceeding the total inventories in the exchange’s warehouse network.