Glencore Expects 2023 Trading Unit Profits of Up to $4 billion
07.24.2023 By TankTerminals.com - NEWS

July 24, 2023 [CNBC] – 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 miner and trader’s trading division includes coal, oil, LNG and related products, as well as metals, whose profit hit a record $6.4 billion in 2022, up 73% from the previous year.

It expects full-year trading earnings before interest and taxes (EBIT) to be between $3.5 and $4 billion. Its long-term yearly guidance stood at between $2.2 billion and $3.2 billion.

Glencore reported lower copper, zinc and nickel production in the first half, but expects higher volumes at some of its mines in the second half.

The group left its overall 2023 guidance for copper unchanged at 1.04 million metric tons.

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

10-year Treasury yield hovers close to highest level since April as investors await key jobs data
01.10.2025 - NEWS
U.S. Treasury yields hovered close to its highest level since April on Friday, as investo... Read More
Union dockworkers, port employers announce tentative deal at East Coast and Gulf ports
01.09.2025 - NEWS
State of Freight The tentative agreement is on all items for a new six-year mas... Read More
China's property market is expected to stabilize in 2025 — but stay subdued for years
10.30.2024 - NEWS
China’s struggling real estate sector may not start turning around until the sec... Read More
Harris will offer an alternative to Trump-era politics in closing argument speech
10.29.2024 - NEWS
1234534234 Democratic presidential nominee U.S. Vice President Kamala Harris walks to bo... Read More