Glencore most bullish on copper, zinc and cobalt, says ceo Glasenberg

Commodity trader Glencore sees copper, zinc and cobalt as the markets with the greatest upside price potential in the coming two years due to limited new supply growth in the pipeline and good demand prospects, ceo Ivan Glasenberg said on Thursday August 10.

"With demand looking fairly strong, especially in China, you want to focus on the markets with limited new supply growth like cobalt, copper and zinc," Glasenberg said at a media briefing following Glencore’s half-year results. "Cobalt is very tight and, if you look at copper, there are no new big mines expected in the next few years – only Katanga, Escondida and Cohalluasi but that’s it. And you have other production in decline, like Codelco, which may lose 100,000 tonnes or so. Zinc...

Published

Perrine Faye

August 10, 2017

13:02 GMT

London