Glencore Trading Profit Is on Course to Smash Through Record
- Company says first-half trading profit will top $3.2 billion
- Glencore says coal costs have risen along with prices
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Glencore Plc’s first half-profit from trading commodities will be bigger than it typically reports for an entire year, putting the resources giant on course for a record 2022 as it cashes in on soaring prices and volatility.
The commodity trading industry is enjoying its most profitable period ever, as Russia’s invasion of Ukraine sparks wild swings in markets that were already at or near record highs even before the war started, creating opportunities for the traders who transport the world’s resources.