Metal trading is experiencing one of its most profitable periods in history, with multiple traders reporting career-high earnings.

The global metals trading industry has seen explosive profit growth for the second consecutive year, with multiple major traders hitting record earnings, and metals traders raking in billions of dollars from the boom. According to people familiar with the matter, Trafigura, which competes with Glencore for the title of the world’s largest metals trader, posted a record $2 billion profit from its metals trading business in the fiscal year ending September. Glencore also delivered one of its best-ever profit results, but its overall performance was weighed down by a $480 million provision related to its exposure to iron ore trader Radiant World. The massive profits made the London Metal Exchange Week (LME Week), which concluded on Friday, an exceptionally lively event. At this most important annual gathering for the global metals sector, champagne flowed freely. Multiple metals traders, speaking on condition of anonymity, said they are enjoying the highest earnings of their careers, while receiving constant job offers from rivals and new entrants seeking to capitalize on the metals market boom. According to people familiar with the matter, Vitol, the world’s largest commodities trader, is expanding its metals trading business, which is on track to generate over $100 million in profits this year. While this performance is significantly better than last year, it lags behind key rivals such as Mercuria.