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...