FX.co ★ Glencore Maintains 2024 Production Guidance - Quick Facts

Glencore has announced that it still anticipates its full-year Marketing Adjusted EBIT to fall within the $3.0 billion to $3.5 billion range, which aligns with the higher end of its long-term guidance of $2.2 billion to $3.2 billion per annum. Additionally, the company has reaffirmed its production forecast for the full year of 2024.

In terms of production figures for the year-to-date when compared on a like-for-like basis (excluding 15,000 tonnes of Cobar volumes from the previous period), the company reported its self-supplied copper production at 705,200 tonnes, a 2% decline from the corresponding period in 2023. Meanwhile, self-supplied cobalt production stood at 26,500 tonnes, reflecting an 18% decrease compared to the same period in 2023. Zinc production, sourced internally, was 643,600 tonnes, marking a 4% reduction from 2023 levels. Nickel production from internal sources reached 62,300 tonnes, which represents a 9% drop. In contrast, attributable ferrochrome production was 894,000 tonnes, maintaining levels consistent with previous data.