Glencore on Friday said it expects profits at its trading division this year of up to $4 billion, exceeding its long-term annual guidance.
The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann/File Photoon Friday said it expects profits at its trading division this year of up to $4 billion, exceeding its long-term annual guidance.
It expects full-year trading earnings before interest and taxes to be between $3.5 and $4 billion. Its long-term yearly guidance stood at between $2.2 billion and $3.2 billion.to buy Teck's steelmaking coal business as a standalone unit, having been rebuffed twice in its $22.5 billon bid to combine the two companies, reported lower copper, zinc and nickel production in the first half, but expects higher volumes at some of its mines in the second half.
Production of battery material cobalt rose 5% to 21,700 tons in the first half, on improved output from its Katanga mine in the Democratic Republic of Congo .
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