Commodities Giant Glencore Hits Decade High on Price Boom
- Shares of the mining and trading giant hit highest since 2012
- Demand prospects fuel talk of years-long commodity supercycle
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Commodities giant Glencore Plc hit the highest in almost a decade, driven by rallies in everything from metals to coal and optimism for a years-long supercycle.
The world’s biggest commodity trader surpassed its 2018 intraday peak on Tuesday, valuing the Swiss company at about $74 billion. Like its mining rivals, Glencore has benefited from massive global stimulus measures that have stoked demand for raw materials, and has also been a big winner from an energy crunch that sent coal prices to a record high.