The commodities trader largely maintained full-year guidance as its marketing unit heads for a sharply stronger first half than the $1.4 billion recorded a year earlier.
Glencore said its marketing division is set to deliver a bumper first-half performance, with adjusted earnings before interest and taxes (a profit measure) expected at around $3.3 billion. The commodities giant also largely backed its full-year guidance, while copper production grew. The projected result compares with $1.4 billion booked by the unit in the same period last year, when uncertainty around U.S. tariff policy and tensions in the Middle East weighed on the macroeconomic environment.