Glencore reports solid growth as prices fall

Associated Press

GENEVA (AP) — Glencore International PLC, one of the biggest traders in raw materials says its metals, coal and agricultural production have risen as prices for many of the world's most valuable commodities continue to fall.

The Swiss-based commodities giant — whose production reports serve as a global snapshot of the supply and demand for commercial materials — said Thursday business during the first nine months of the year was "good, despite generally weaker commodities prices."

On Tuesday, Glencore told European Union regulators it would relinquish some dominance in the European zinc market to gain approval of its $70 billion merger with Anglo-Swiss mining company Xstrata PLC.

Glencore offered to cancel its exclusive marketing deal with Belgian-Swiss leading zinc producer Nyrstar NV.

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