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Glencore CEO: China Is a Lot Weaker Than Anyone Expected

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Commodity Rout Hits Major Players Hard

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Glencore Plc Chief Executive Officer Ivan Glasenberg said no one can read the Chinese commodity market.

It’s getting harder to predict metals consumption in China, the world’s biggest user of raw materials, the billionaire CEO said in a phone interview in London. Glencore reported a 56 percent plunge in first-half profit on Wednesday and cut the earnings forecast for its trading division.