The world’s metal traders are enduring one of their toughest periods in years.

While equity investors gave the demerger plan a thumbs up, Vedanta’s dollar bonds have tumbled.

The gathering brought together CEOs from more than 50 companies from the oil and gas sector and the aluminum, steel and cement industries.

The MoU comes ahead of a visit by President Vladimir Putin to China next month.

Shares in Vedanta Ltd. have fallen by more than a fifth over the past 12 month.

William Oplinger, chief operations officer, is the natural successor.

CEO praised Teck as a “mining champion in Canada” that has attracted the interest of other multinational miners but said that Rio is not looking to make a major acquisition at the moment.

Global copper and aluminum supply deficits may cause prices to soar within a few years while steel may drop, according to a new report on metals.