Diminished Chinese demand will weigh heavily on the profitability of Glencore's mining segment.
We've raised our near-term copper price forecast to better reflect the recent run up in pricing to about $2.70 per pound from $2.10 just six weeks ago. However, we think the price rapid price increase is largely unsupported by fundamentals and will be short lived. In 2016, copper demand, particularly in China, has been stronger than we were expecting but so has supply--enough so that the recent copper price spike is surprising.Although we've raised our near-term price estimates, our long-term p...
Glencore is engaged as a natural resource companies. Co. is organized and operates on a worldwide basis in three main business segments: Metals and minerals, which comprised of zinc, copper, lead, alumina, aluminium, ferroalloys, nickel, cobalt and iron ore; Energy products, which comprised of crude oil, oil products, steam coal and metallurgical coal; and Agricultural products, which comprised of wheat, corn, canola, barley, rice, oil seeds, meals, edible oils, biofuels, cotton and sugar supported by investments in storage, handling, processing and port facilities.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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