Red Kite in 2017 sued Barclays for $850 million, alleging that the bank's traders were able to see the hedge fund's confidential trading positions on the London Metal Exchange.
Barclays Mining News
The commodity research teams at Macquarie and Barclays, however, are not as optimistic when it comes to potash, aluminum and steel.
These are the first cases to come out of a global probe into allegations of widespread rate-rigging in foreign exchange markets.
The bank, which is the world’s largest private lender, is also expected to announce an agreement regarding alleged collusion and manipulation in the foreign exchange market.
Tough regulations and worries about reputation have made trading commodities a source of worries for bank bosses.
Winner will be announced in October, and implementation will be complete by the year-end.
The three banks have been accused of fixing the price of trillions of dollars worth of silver.
On top of the fine, one of the bank's former traders has been banned from working in London.
The English bank is planning to sell large parts of its metals, agricultural and energy business.
Barclays' share price suffers.