Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Global mining conglomerate Glencore has lowered its zinc production guidance from 1.25mn mt to 1.17mn mt during the year following a push back in its ramp-up and maintenance plans.


Glencore has also lowered its annual nickel output guidance to 105,000mt from 117,000mt, whereas the company’s copper production is on track until H2 2021. Its near-term outlook is to focus on safe and sustainable production as the COVID-19 pandemic persists.


Copper production

The company’s copper production climbed by 2pc to 598,000mt in the first half of this year from 588,000mt during the same timeframe in 2020, according to its production update on Jul 30.


Lead and nickel production

Lead and nickel production was slightly subdued this year, with the former falling 9pc to 117,000mt from 128,000mt. Nickel output was 14pc lower at 47,700mt as against 55,200mt in H1 2020 on the back of maintenance and other operational issues at its Murrin, Australia and Koniambo, New Caledonia mines. 


Zinc production

Glencore’s zinc output in H1 2021 improved 6pc to 582,000mt compared with 550,100mt during the same prior-year period owing to the lifting of pandemic-induced suspensions in Peru.


The miner’s ferrochrome and coking coal production numbers stood at 773,000mt and 4,100mt respectively.

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