Glencore: share down after production report
(CercleFinance.com) - Glencore shares are down nearly 3% on the London Stock Exchange today, after the Swiss-based commodities giant released its production report for the first quarter.
From January to March, the group's copper production fell by 7% year-on-year, mainly due to production incidents and lower ore grades. Nickel production is also down (-10%).
However, coal production increased by 8%, cobalt production soared 56%, while zinc production rose by 8%.
Finally, the group announced pretty stable production for ferrochrome and oil.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
From January to March, the group's copper production fell by 7% year-on-year, mainly due to production incidents and lower ore grades. Nickel production is also down (-10%).
However, coal production increased by 8%, cobalt production soared 56%, while zinc production rose by 8%.
Finally, the group announced pretty stable production for ferrochrome and oil.
Copyright (c) 2019 CercleFinance.com. All rights reserved.