Glencore Is Top Codelco Customer as Copper-Trading Reach Expands
- Company accounts for 11% of sales at Chilean copper giant
- Glencore has doubled copper trading in the past six years
Photographer: Oliver Bunic/Bloomberg
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For evidence of Glencore Plc’s growing heft in the global copper market, look no further than the customer list of No. 1 miner Codelco.
The commodities giant was easily Codelco’s biggest buyer last year, according to a Bloomberg analysis of data from the Chilean state copper producer. Codelco is a prized relationship among traders as it sells in large volumes and its copper is in high demand among buyers in key markets like China and Japan.