GLENCORE AT A GLANCE: Metals trading profits soar 28% in H1 on volume growth

Glencore metal traders banked a record $6 billion in adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) for the first six months of 2018.

Metals and minerals profits were up by 28% year on year, while the company’s full trading division - including metals, energy and agricultural businesses – clocked $8.3 billion in profit. While both marketing and industrial assets contributed to the increased earnings, the greater part of the increase came from the industrial side, reflecting the assets’ direct exposure to stronger commodity prices. Battery-related metals, such as nickel and cobalt prices, were particularly strong in the first six months of 2018. Meanwhile, the restart of the Katanga mine and the commissioning of its whole ore leach process in December 2017 were also...

Published

Archie Hunter

Karen Ng

August 08, 2018

15:57 GMT

Singapore, London