Glencore PLC (LON:GLEN) said marketing profits this year will be in the top half of its guided range while its production businesses are broadly on track.
In a statement covering the three months to end-March 2021, the FTSE 100 group said coal production was down 7.4mln tonnes reflecting Prodeco's care and maintenance status and the market-related production cuts in Australia.
Elsewhere, copper production rose by 3% and cobalt by 11% while zinc production dipped 4%.
“Full-year production guidance has been maintained for our key commodities,” said Ivan Glasenberg, chief executive.
Based on the first quarter 2021's marketing performance, “We expect full-year Marketing EBIT to be within the top half of our long-term US$2.2-3.2bn pa guidance range," he added.