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Commodities Briefing - Categorized | Financial, Market Moves more

Glencore sees growing demand for commodities

Posted on 05 March 2014

Commodities trader and producer Glencore Xstrata says global demand for its raw materials is expected to grow, but that its earnings have been hit by big one-time charges. The expenses, many associated with Glencore’s takeover of Xstrata, pushed the company to a net loss of $7.4 billion last year, compared with a profit of $1 billion the previous year. Not counting those expenses, profits rose 20 percent to $3.67 billion.
Chief Executive Ivan Glasenberg says the company sees healthy demand growth in key commodities, “underpinned by the long term trend of urbanization in emerging markets and parts of the developed world returning to trend growth.”……………………………………….Full Article: Source


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