Free Trial

Glencore (Baa1/BBB+): 1Q24 Production Report

BASIC INDUSTRIES

EBIT outlook is a small positive for spreads


• FY24 production forecasts affirmed; they mostly look in line to ahead of consensus (particularly copper).

• Upgrades FY24 adj. marketing EBIT to $3-3.5bn from $2.2-3.2bn.

• Headlines last night suggest Glencore shareholders want it to keep its coal assets rather than spinning them off as planned. At the time of the announcement, Glencore said it would only proceed with the plan if shareholders were in favour.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.