Reported 2 days ago
Glencore Plc has reported a significant decline in full-year profit, with core earnings falling 16% to $14.4 billion, driven by plummeting prices of coal and cobalt. The company, which returned $2.2 billion to shareholders, suggested it may cut output to stabilize prices in an oversupplied market. Coal prices have recently dropped to their lowest levels since 2021, prompting Glencore to consider moving its primary listing from London as it evaluates its production strategies across various commodities.
Source: YAHOO