Glencore posts lower metals output for first nine months, reiterates guidance

LONDON: Glencore on Wednesday reported lower copper, cobalt, zinc, nickel and thermal coal production for the first nine months but reiterated it expected its trading profits to reach the high end of its long-term range at up to $3.5 billion.

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The miner and trader’s own sourced copper production fell 4% to 705,200 metric tons while its own sourced cobalt output fell 18% to 26,500 tons. Glencore left its full-year guidance unchanged.