Glencore's trading prowess sets unit up for second-best year | Fin24
In partnership with
  • Mboweni on State Capture

    The new finance minister has described state capture as a 'great public sector heist'

  • Kganyago on Populism

    The central bank head says SA must learn economic lessons from Venezuela and Zimbabwe.

  • Up in the Air

    Uber Air could see SA shoppers flying to malls via skyports, says a company executive.


Glencore's trading prowess sets unit up for second-best year

Dec 12 2017 11:28
Tom Wilson and Mark Burton, Bloomberg News

Company Data


Last traded 59
Change 0
% Change 0
Cumulative volume 1053633
Market cap 0

Last Updated: 01/01/0001 at 12:00. Prices are delayed by 15 minutes. Source: McGregor BFA

Related Articles

Glencore, Chad said to deadlock on $1bn debt deal

Glencore is close to creating a mining royalty company

Glencore said to mull bid for Chevron's South Africa assets

Glencore slashes debt as it positions for M&A in commodities

Glencore CEO's $20bn boast a sign of the times

Glencore buys out billionaire with $1bn deal


London - Glencore [JSE:GLN] said its powerful trading business will be a star performer again this year.

Earnings before interest and taxes for its trading division will be around $2.8bn for 2017, the company said on Tuesday. That’s the second-best performance in data going back to 2010 and the top end of a previously announced range. Last year, Glencore reported record trading profit of $2.82bn.

“Marketing is highly cash generative across the cycle,” the company said in a statement, adding that it’s “able and willing to grow our business” with "bolt-on acquisitions" focused on existing commodities.

The world’s biggest commodities trader is benefiting from soaring metals prices and more volatility in its major markets.

The company has long positioned its trading division to investors as a key difference between it and other mining majors, who tend to market less of their own production. The business deals in almost 100 raw materials including oil and agricultural products.

trading up

Glencore is holding an investor call at 13:00 London time on Tuesday and will provide more details on its business strategy. The shares slipped 1.6% to 345.75 pence as of 08:30.

* Sign up to Fin24's top news in your inbox: SUBSCRIBE TO FIN24 NEWSLETTER

Follow Fin24 on Twitter, Facebook, Google+ and Pinterest. encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

glencore  |  mining  |  companies


Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

The appointment of Tito Mboweni will:

Previous results · Suggest a vote