Glencore hit by copper jitters, shares drop in London trade

Glencore comes under pressure on the London Stock Exchange as worries over further US rate hikes weigh on copper prices and mining stocks, even though the group’s copper production and guidance remain intact.

By Daniel Hoffmann, Chart & Technicals desk. Reviewed prior to publication on 2026-06-23, 21:04.

Glencore (JE00B4T3BW64) is trading sharply lower on the London Stock Exchange on Tuesday. The mining and trading group’s shares are down about 4.6 percent to around 533 pence as sector-wide pressure from weaker copper and rate worries hits London-listed miners, according to a London market report.London report on Glencore and copper stocks

Copper weakness hits Glencore

The move in Glencore comes as copper prices on the London Metal Exchange slip 0.5 percent to about 13,580 US dollars per ton, while the key Shanghai contract declines 0.6 percent.Coverage of copper price moves and sector reaction The same report notes that Anglo American and Antofagasta, two other major London-listed miners, are also under marked pressure, illustrating the breadth of the sector move.

Despite the setback, Glencore shares remain roughly 94 percent higher over the past 12 months, underscoring the strong recovery in mining stocks tied to copper and other commodities over the past year.Performance and sector comparison In London trading terms, that leaves the stock still well above its 52-week low, even after Tuesday’s decline.

What recent numbers show

The same market commentary highlights that Glencore’s own-sourced copper output rose 19 percent in the first quarter to 199,600 tonnes, while the company maintained its full-year copper production target at 810,000 to 870,000 tonnes.Q1 production and guidance details CEO Gary Nagle is quoted as saying that higher commodity prices should more than offset cost increases, which he expects to drive margin expansion.

For 2025, Glencore reported adjusted EBITDA of 13.5 billion US dollars, a decline of about 6 percent compared with the previous year, while net income recovered to 363 million dollars from a loss of 1.63 billion dollars a year earlier.Recent earnings and profitability metrics The company also announced total shareholder distributions of 17 US cents per share for the year, equivalent to roughly 2 billion dollars.

The business behind the stock

Glencore generates revenue by producing and marketing commodities across three main pillars: metals and minerals, energy products and agricultural products. In copper, which is central to Tuesday’s share move, the group operates mines in countries such as the Democratic Republic of Congo, Peru and Australia, supplying smelters and industrial customers worldwide.Overview of Glencore’s diversified commodity business

Where the stock trades today

Glencore shares (JE00B4T3BW64) trade on the London Stock Exchange under the ticker GLEN; on 2026-06-23 at 16:30 London time they closed at 535.30 pence, according to exchange data.

Key data on the Glencore shares

• Company: Glencore plc
• ISIN: JE00B4T3BW64
• WKN: A1JAGV
• Ticker: GLEN
• Trading venue: London Stock Exchange
• Price (as of 2026-06-23, 16:30): 535.30 GBp
• Market cap: 72.99 billion EUR (as of 2026-06-23)
• Sector / industry: Metals & Mining / Diversified Mining
• Index membership: FTSE 100
• Next earnings date: not officially scheduled

This article is for informational purposes only and does not constitute investment advice or a solicitation to buy or sell securities.