Alfred Cang

In a corporate presentation in December 2024, Radiant World boasted of its “diverse network” of suppliers and counterparties.

Radiant World is under growing pressure after two of its key banks froze its funds and major miners moved to cut ties with the iron ore trading house.

By surviving on lower prices, producers are complicating Beijing’s struggle with weak inflation.

Radiant World, the iron ore trader under pressure after some banks and counterparties withdrew from doing business with it, has laid off several employees across its global offices, according to people familiar with the matter.

China is considering a proposal to host the annual United Nations climate summit in 2028, a move that would signal the country’s intent to show greater global leadership on the issue.

Singaporean police raided the local office of iron ore trader Radiant World last week and questioned some of the firm’s employees, according to people familiar with the matter, part of an investigation into the company’s transactions after some counterparties raised concerns about allegedly falsified documents.

Blue-chip firms lent their money, connections and reputations to the little-known iron ore trader. Now several of them are counting their losses.

Several Indonesian nickel smelters controlled by Chinese firms are weighing coordinated output cuts of a key battery material, as pressure mounts on profitability due to weak prices, according to people familiar with the matter.

Smoky skies are making an unwelcome comeback in Malaysia and Singapore as the dry season peaks.

A leading executive at Radiant World’s China office has quit, according to sources familiar with the matter, as the iron ore trader comes under pressure over concerns it provided falsified documents to banks.