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After seven years on the sidelines, oil trader Gunvor Group Ltd is back into the metals trading business as more commodity trading houses are betting on metals amid the energy transition. Gunvor has hired veteran metals trader Ivan Petev to head its new base metals business, anonymous sources with knowledge of the matter have told Bloomberg.

Petev has previously worked in the commodity trading business at VTB Capital in Switzerland, as well as at Castleton Commodities International and at JPMorgan Chase & Co. Gunvor halted its metals trading…