Citadel Joins Trading Rush Into Metals as Prices Soar to Records

Citadel, the most successful hedge fund in commodity markets, is finally taking a step into industrial metals — shifting its stance after years of avoiding the sector as prices from copper to tin hit record highs.

The hedge fund led by Ken Griffin has hired Ylan Adler as a portfolio manager with a cross-commodities mandate of which metals will be a key part, according to people familiar with the matter. The move comes amid a wider rush of interest in metals trading, as a red-hot market draws many other funds and trading houses to expand into the sector.

Citadel’s commodities ...