Metal is back. Some of the world’s biggest energy trading companies are returning to the sector years after getting burnt in notoriously difficult markets. Vitol Group, Gunvor Group and Mercuria Energy Group are among the traders building out their metals teams as they look to deploy capital generated by record profits. The shift comes as forecasters turn bullish on copper, aluminum and other metals, where long-anticipated production shortfalls are starting to manifest. Many commodities houses also see strong links between metals usage and power markets—another growth area for traders. “For the oil traders, there’s a whole energy transition story, but they’ve also got the cash to take significant positions,” said Kristofer Tremaine, chief executive of commodities sector lender Kimura Capital. “A lot of metal traders should be worried–they’re going to lose a lot of market share.”

While US employees everywhere could enjoy new-found freedom after the Federal Trade Commission ditched non-compete agreements, Wall Street traders and money managers may be in for a disappointment if they’re hoping to jump. Those dreaded caveats have long been a facet of financial industry contracts for employees privy to sensitive information like trading strategies or pending deals. Here’s why, despite the FTC ruling, finance folks might just lose out.