Glencore's Copper, Nickel Beats Offset Weak Zinc, Cobalt -- Market Talk

Dow Jones04-30

0839 GMT - Glencore's copper and nickel production were at or ahead of expectations, while zinc and cobalt were among the laggards, Citi says. "The key highlight of the quarter is the progress made for the ongoing ramp up of Zhairem asset in Kazakhstan, which has somewhat offset the weakness in Antamina zinc production [in Peru]," Citi analysts write in a research note. Elsewhere, cobalt production continued to remain weak due to planned lower run rates at Mutanda operations in the Democratic Republic of the Congo given the lower pricing environment persisting through the quarter, they say. Shares are down 1% at 468.55 pence. (christian.moess@wsj.com)

(END) Dow Jones Newswires

April 30, 2024 04:39 ET (08:39 GMT)

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Elsewhere, cobalt production continued to remain weak due to planned lower run rates at Mutanda operations in the Democratic Republic of the Congo given the lower pricing environment persisting through the quarter, they say. Shares are down 1% at 468.55 pence. 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