Its rivals, investors and counterparties will be waiting for its next trading statement, due on November 4, for more details.
The company has always said it is committed to marketing, which serves as a key differentiator for the firm.
Most commodity firms are facing the twin problems of shrinking margins and rising debts. Right now, the ideal way out is to dump people, projects and production, and restructure debts.
Cutting its marketing business to any substantial degree would be a bold move for Glencore, and an emotional one too; Glencore’s core business prior to its merger with Xstrata was trading. It’s the business in which the majority of its management team cut their teeth, including ceo Ivan Glasenberg.
Trading is what the company "did" for decades prior to the merger, and...