Glencore metals trading arm hits record profits in 2017 on volume growth

By Archie Hunter / February 21, 2018 / www.metalbulletin.com / Article Link

Glencore metal traders banked a record $2 billion in profits in 2017 - a year where traded volume of copper, zinc and ferro-alloys grew substantially.

Metals marketing profits were up by 28% compared with the year prior, while the company's full trading division - including metals, energy and agricultural businesses - clocked $3.22 billion in profit.

Copper marketing volume grew 14% to 4 million tonnes last year, the most since the company went public. Meanwhile, zinc tonnes traded jumped by 40% to 2.8 million tonnes, Glencore said in its preliminary results published on Wednesday February 21.

Glencore's booming traded volume growth, accompanied by bumper profits, came as...

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