logo-loader
viewGlencore PLC

Glencore “caught out” by copper price woes, says SP Angel’s Meyer

John Meyer, partner at boutique mining house SP Angel, says blue-chip miner and commodity trader Glencore (LON:GLEN) has been caught out by the price of copper.

The bronze metal is trading at six-year-lows and Glencore today blamed sharp falls in commodity prices for lower profits.

“We’ve seen large scale selling of copper in the futures market, which has forced prices down and caught traders out,” said the analyst.

Meyer also discusses the outlook for small cap miners in a low price environment and rates Anglo Asia Mining's (LON:AAZ) efforts to address costs and recovery issues as a good example of a firm turning things around.

Quick facts: Glencore PLC

Price: 175.38 GBX

LSE:GLEN
Market: LSE
Market Cap: £23.37 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Inspired Energy raises up to £35mln in placing and open offer and fully...

Inspired Energy PLC's (LON:INSE) Mark Dickinson speaks to Proactive after announcing they've raised £35mln and struck a deal to acquire the 60% of Ignite Energy that it does not already own. Dickinson says the acquisition will accelerate the group's organic growth in optimisation services. In an...

1 day, 10 hours ago

2 min read