On April 30 (Wednesday), Glencore’s report revealed that its Q1 copper production fell by 30% YoY to 167,900 mt, but the estimated full-year production for 2025 remains within the range of 850,000-910,000 mt, with production expected to rise in the coming months.
Glencore produced approximately 952,000 mt of copper last year.
Concerns surrounding global trade have weighed on the prices of most industrial metals, but analysts predict that as the transition to electric vehicles (EVs) and renewable energy infrastructure progresses, the prices of copper and other minerals essential for the energy transition will rise.
Glencore’s report indicated that its Q1 nickel production decreased by 21% YoY to 18,800 mt, but the production target for 2025 remains unchanged at 74,000-86,000 mt.
The company’s Q1 zinc production increased by 4% YoY to 213,600 mt, primarily reflecting higher grades at the Antamina mine and increased production in Australia; the zinc production target for 2025 is 930,000-990,000 mt.
The company’s Q1 lead production increased by 14% to 49,900 mt.
(Source)