May 3, 2018 / 6:23 AM / in a year

Glencore expects trading profit at upper end of forecast range

LONDON, May 3 (Reuters) - Commodities trader and mining company Glencore expects 2018 trading earnings before interest and tax to be in the top half of the $2.2 billion to $3.2 billion range previously announced, it said on Thursday after reporting first-quarter output in line with forecasts.

It said production was broadly in line across all commodities and the ramp up at Katanga in Democratic Republic of Congo was going ahead, helping to take Glencore’s own copper output to 345,000 tonnes, against 21,300 tonnes in the same period a year ago. (Reporting by Barbara Lewis and Arathy Nair Editing by David Goodman)

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