en.Wedoany.com Reported - Cargill is in talks with Macquarie Group to sell its metals business unit. Five sources familiar with the matter said the global trading company plans to focus on its core food and agriculture operations.

All sources requested anonymity as the sale has not been announced and they are not authorized to speak to the media. They did not disclose further details of the negotiations, and there is no guarantee a deal will be reached.

Cargill did not respond to Reuters' requests for comment sent via email and phone.

Macquarie declined to comment.

According to the company's website, Cargill's metals business unit in Singapore trades 60 million to 70 million metric tons of iron ore and 4 million metric tons of steel annually, with about 130 employees.

The potential divestiture comes as the outlook for iron ore prices has become uncertain due to declining demand from major consumer China, while the involvement of state-owned buyer China Mineral Resources Group is also reducing the volatility that traders rely on for profits.

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