LONDON Nov 1 Trader Glencore said its
closely watched marketing operations performed "strongly" in the
third quarter, boosted by trading in agriculture and metals,
though it warned tough global economic conditions would not
improve any time soon.
"(The third quarter) saw a healthy improvement both
year-on-year and sequentially," Glencore said of its marketing
operation, which accounts for a smaller portion of profit than
its industrial arm, but is less easily forecast.
"Glencore's outlook for the remainder of the year in
marketing remains positive."
Glencore said its industrial performance was on track to
meet longer-term targets but its Katanga operation in Congo was
badly hit by power outages which cost the group 49 days of lost
production over the first nine months of the year. Copper
production there was up 3 percent over the period.