Glencore’s trade arm was boosted by rising commodity prices
Glencore’s trading hand got off to a good start to the year, boosted by rising prices for the most important global economy.
The Swiss-based company, which is also a major miner, said all proceeds from its advertising campaign would expire at the end of its $ 2.2bn- $ 3.2bn target.
Sales of copper to coal have grown behind big demand in China and elsewhere as the global economy stems from the coronavirus epidemic.
Copper, which is used for everything from household items to electric cars, went on sale at $ 10,000-tonne Wednesday, continuing to run from its Covid-19 at the end of March 2020.
The iron was less than $ 200 away from the transmission of its historical record, which was established in 2011 at the time of the sale.
In a quarterly production report, Glencore said copper prices rose $ 8,501 in the three months to March, up 51% the same as last year, while zinc rose 29%, nickel 38% and hot coal 27%.
Tyler Broda, a reporter for RBC, said the waves in support of Glencore’s hand have continued for some time due to the increasing number of exporting countries such as Chile.
Glencore’s trading platform contributes to making the most of your money. They are well followed by investors because of the huge amount of money they can generate. It also establishes Glencore sharing principles.
The agency was very successful in its performance last year, with an earlier report of $ 3.3bn in interest and taxes when its traders faced a turmoil caused by coronavirus in the oil and steel markets.
In Wednesday’s update, Glencore said production from its mines in the first phase of 2021 was in line with expectations.
Glencore CEO Ivan Glasenberg is due to retire in June. He will be replaced by Gary Nagle, his chief financial officer.
Nagle’s paid package has been criticized by some representatives of other businesses and businesses. However, the company’s chairman Tony Hayward said he expected greater package support at the annual meeting in Switzerland later today.