Electra, Glencore extend cobalt purchase contract

CME Group Inc. announced the first trades of its U.S. Zinc Futures contracts, executed by Glencore plc and Trafigura Group Pte. Ltd. The contracts, for September delivery, were traded on CME Globex. CME updated its Zinc contract to U.S. duty-paid in March 2026 to meet client demand. The contract aims to provide risk management for U.S. zinc pricing. CME Group Inc. was the first to introduce regional products in industrial metals, steel, and battery metals. U.S. and European Hot-Rolled Coil steel

Korea’s Export-Import Bank will provide US$1 billion to Glencore, according to Bloomberg, backed by guaranteed copper supply for South Korean industrial firms. Glencore says its H1 adjusted EBITDA rose 86% to US$10.1 billion and net income was US$4.4 billion. Glencore also plans an ASX secondary listing and is negotiating to keep its Horne smelter running amid proposed arsenic-emission rules.

South Korea’s Export-Import Bank will provide a $1 billion loan to Glencore International AG, a wholly owned Glencore subsidiary, in exchange for copper supplies to South Korean companies during the loan period, according to the bank. Copper prices are up about 15% this year near record highs. The deal targets supply security for AI and power infrastructure demand.

South Korea’s Export-Import Bank will provide a $1 billion loan to Glencore International AG, according to the lender, in return for copper supplies to Korean companies during the loan period. The bank said the funds will support Glencore’s general working capital but did not disclose volumes or terms. Copper prices are up about 15% in 2024, and Glencore shares rose 0.8% to 553.5 pence.

Vast Resources plc said it entered a loan agreement with Glencore International AG for a US$10 million term loan facility. US$4 million is restricted to project expansion at Aprelevka and US$6 million to working capital and debt repayment. Funds are subject to reverse takeover and admission becoming effective. Loan interest is SOFR plus 5% margin, reducing to 3.75% after qualifying events, and Glencore receives 10,000,000 warrants exercisable at 7.5p.

Export-Import Bank of Korea said it will lend $1 billion to Glencore International AG, a wholly owned Glencore subsidiary, in return for copper supply to South Korean companies during the loan period. The bank said funds will be used for general working capital. Copper demand tied to AI and electricity growth has lifted prices about 15% this year.