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Glencore Credits China’s ‘blue Skies’ Program For Strong H1

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By Michael Allan McCrae Glencore credited China’s clamp down on mills and smelters with boosting its bottom line in its 2018 H1 released today. The diversified commodity giant adjusted H1 EBITDA for its metal and minerals division was $6.0 billion, 28% higher than the same period a year ago. Glencore’s energy division was up 19% to $2.5 billion while agriculture declined 34% to $109 million. “Industrial metals prices increased over 2017 levels, driven by a healthy global demand picture and lacklustre mine supply growth,” writes the company.

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