Glencore Swings to Loss Amid Lower Commodity Prices

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Glencore, the Anglo-Swiss commodity giant, booked $2.8 billion in impairments, driven by the steep decline in thermal-coal prices

Glencore PLC swung to a loss in 2019 as it wrote down $2.8 billion in assets related to its businesses in coal and other commodities.

The Anglo-Swiss commodities giant, one of the world’s biggest producers of raw materials such as copper, cobalt and coal, said it was closely monitoring the deadly outbreak of coronavirus, which has caused massive disruption in China, the world’s biggest consumer of raw materials.

 

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