Trending: Glencore 2022 Production Was Overall in Line With Guidance

1132 GMT - Glencore PLC is among the most mentioned topics across news items over the past four hours, according to Factiva data, after the company reported 2022 production that was overall in line with guidance provided in October. Final quarter sequential production increased across most of its key commodities, including copper, zinc, nickel and coal. The commodity mining and trading company added that copper and zinc volumes reflected the base effect of asset sales as well as geotechnical constraints and supply-chain headwinds in Kazakhstan. Despite a better production performance, RBC Capital Markets analyst Tyler Brod wrote that there was little in the release to change outlook given a lack of new guidance for 2023. eToro analyst Mark Crouch wrote that 2022 output figures will have disappointed shareholders, with 2023 production guidance fairly conservative. "Looking forward, though, there are some tailwinds that might provide a demand boost for base metals, such as the lifting of Covid-19 restrictions in China and a brighter-than-expected outlook for the global economy," Crouch says. Dow Jones & Co. owns Factiva. ([e-mail].)

(END) Dow Jones Newswires

February 01, 2023 06:47 ET (11:47 GMT)

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