【Glencore Expects Higher Steelmaking Coal Output in H2 2026】

Published: Aug 6, 2026 10:47

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Glencore reported adjusted EBITDA of US$10.1 billion for the first half of 2026, up 86% year on year and above market expectations of US$9.5 billion. The increase was mainly driven by heightened energy-market volatility resulting from the conflict in the Middle East, which boosted earnings from the company’s commodity marketing and trading business. Adjusted EBIT from its marketing division reached US$3.3 billion, already approaching the upper end of its full-year target range. Adjusted EBITDA from its industrial operations, including mining assets, increased 72% year on year to US$6.5 billion, primarily supported by higher commodity prices.

Glencore said it would continue expanding its copper business while retaining coal as a core part of its portfolio. The company expects production growth in the second half of 2026 to be driven mainly by higher steelmaking coal output. Based on prevailing commodity prices and its production outlook for the second half, Glencore expects full-year 2026 adjusted EBITDA of approximately US$19.7 billion.

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