Glencore Share Discussion Threads

[mhrangoon] 02/11/2021 08:41

I thought we will see £4 this week

[action] 02/11/2021 08:24

No buyers ,at this level.

[sarkasm] 30/10/2021 22:18

The Global Energy Crunch Has Sent Steel Production Crashing

By Ag Metal Miner - Oct 30, 2021, 2:00 PM CDT


Global steel production has declined for the fourth month in a row.

The global energy crunch is forcing many producers to curb output.

Metals producers across the globe are feeling the burden of rising energy costs.

Global crude steel production declined in September, marking the fourth straight month of month-over-month declines.

Global crude steel production falls to 144.4 MT

September global crude steel production fell to 144.4 million metric tons, the World Steel Association reported this week.

Metals producers around the world have felt the burden of rising energy costs, as we’ve noted in previous articles. Zinc prices, for example, have since retraced but earlier this month soared to 14-year highs. Belgian zinc producer Nyrstar said it would slash production in response to rising energy costs.

As for steel, September output declined from 154.4 million metric tons the previous month. Meanwhile, output declined by 8.9% on a year-over-year basis.

Top producer China saw its output fall from 83.2 million metric tons to 73.8 million metric tons in September.

The China Iron and Steel Association overviewed the sector’s third-quarter performance on Monday.

“The steel industry has actively responded to changes in domestic and international demand and made efforts to overcome difficulties such as high raw and fuel material prices and rising pressure on ‘double carbon’ environmental protection,” CISA said. “The overall operation trend in the first three quarters was good, making outstanding contributions to meeting the steel demand of downstream industries and ensuring the sustainable recovery of the national economy. However, it also faces challenges such as a more complex market environment and difficulty in reducing costs and increasing efficiency.”

India, the second-largest steel producer, churned out 9.5 million metric tons amid a coal crisis of its own. The total marked a 7.2% year-over-year increase. However, output declined from August’s 9.9 million metric tons.

Meanwhile, Japanese output reached 8.1 million metric tons, or up 25.6% year over year.

E.U. production totaled 12.7 million metric tons, or up 15.6% year over year.

By AG Metal Miner

More Top Reads From Oilprice.com:

[uncertain times] 30/10/2021 20:21

What's with this G20 big business corporate tax deal at 15%?

[mo123] 30/10/2021 10:57

Nice fall in £ against the $ yesterday. Mkt seems to think that if BOE raise rates too quickly it will choke off recovery in UK. Meanwhile,in the US, the Fed is seen bringing forward an int rate rise to July 22.

[action] 30/10/2021 09:06

Gas prices dropped by 20% in last 2 days .

[lbdwhite] 29/10/2021 12:16

Interesting info. Thank you.

With US coal imports 60/70% from Columbia. Glencore may well benefit from that.

[waldron] 29/10/2021 09:02

Glencore PLC said Friday that it now expects earnings from its marketing business to be ahead of the guidance range in 2021.

The FTSE 100 company forecast full-year marketing adjusted earnings before interest and taxes to exceed the top end of the long-term guidance range of $2.2 billion-$3.2 billion per annum.

Glencore's marketing arm sources, transports, stores, processes, sells and delivers commodities to customers.

In addition, the commodity mining and trading company said its assets performed in line with expectations in the third quarter, and that full-year production guidance remains unchanged.

The Anglo-Swiss group produced 895,500 metric tons of copper in the nine months ended Sept. 30, down from 934,700 tons a year earlier.

Coal output fell to 76.3 million tons from 83.5 million tons.

"Notably, as energy markets have improved, we are recovering from the market-driven production cuts initiated within our Australian coal portfolio in the second half of 2020," Chief Executive Gary Nagle said.

Cobalt production rose 8% to 23,400 tons, zinc edged down 0.5% to 855,800 tons, lead was 11% lower at 173,400 tons, and nickel fell 13% to 71,100 tons. Ferrochrome production increased 65% to 1.07 million tons.

Gold output fell 9% to 593,000 ounces, and silver rose 2% to 23.79 million ounces. Oil was 23% higher, at 4.15 million oil-equivalent barrels.

Glencore reported that on Oct. 15 it had agreed the sale of its Chemoil Terminals LLC subsidiary, which owns two oil storage terminals in California, for $242 million. Closing is expected before the end of the year.



Write to Jaime Llinares Taboada at [e-mail]; @JaimeLlinaresT



(END) Dow Jones Newswires

October 29, 2021 03:03 ET (07:03 GMT)

[waldron] 29/10/2021 08:00

Glencore PLC said Friday that it now expects earnings from its marketing business to be ahead of the guidance range in 2021.

The FTSE 100 company forecast full-year marketing adjusted earnings before interest and taxes to exceed the top end of the $2.2 billion-$3.2 billion per annum long-term guidance range.

In addition, the commodity mining and trading company said that its assets performed in line with expectations in the third quarter, and that full-year production guidance remains unchanged.

"Notably, as energy markets have improved, we are recovering from the market-driven production cuts initiated within our Australian coal portfolio in the second half of 2020," Chief Executive Gary Nagle said.

Glencore also reported that on Oct. 15 it agreed the sale of its Chemoil Terminals LLC subsidiary, which owns two oil storage terminals in California, for $242 million. Closing is expected before the end of the year.



Write to Jaime Llinares Taboada at [e-mail]; @JaimeLlinaresT



(END) Dow Jones Newswires

October 29, 2021 02:38 ET (06:38 GMT)

[mo123] 28/10/2021 09:35

Nice find gx. Still feel it's a big institution (maybe 2) dumping this one ahead of COP26. Let's see if it rises after Nov 12.

[uncertain times] 27/10/2021 23:10

It won't preserve it when it bounces back, GLEN on a minor correction but still on an upward trend. 3rd Q will be telling on the 29th. Good luck.

[adejuk] 27/10/2021 15:30

i'm out to preserve some profit.

[riskvsreward] 27/10/2021 14:36

It could prove really beneficial to long term investors if it is buying back now at a low price and the share price increases significantly in the future! Look at man group as an example, it has been buying back over a number of years at a price from 90p to 150 p and a lot of people on its forum moaned about it, but it’s price is now over 240 p and the buyback has been hugely beneficial to the investors now.

[adejuk] 27/10/2021 14:08

so much for a beneficial buy back

[gxgxx] 27/10/2021 11:05

MM's Obvious.........They make money on Down's & Up's........This is preparation to maximise the 3rd Quarter results due on 29/10 - Friday. If as expected the share price increase will be substantial so there is nothing better than buying them now at a lower share price Just good 'Manipulation' and profit for those in the 'club'

[action] 27/10/2021 10:21

Expectations was 400p +.

[mo123] 27/10/2021 10:00

More problems at Antamina or just a big seller moving on?

[action] 27/10/2021 09:41

3 % drop? Wow