London, Jan 6, 2026, 08:31 GMT — Regular session
- Glencore shares rose about 1.3% in early London trade as copper extended a record run. 1
- Copper surged above $13,000 a metric ton on Monday on supply fears and demand tied to AI data centres and EVs. 2
- Investors’ next company catalysts are Glencore’s Jan. 29 production and reserves update and its Feb. 18 annual results. 3
Glencore plc shares rose 1.3% to 424.9 pence by around 0830 GMT, as a fresh record in copper prices lifted mining stocks early in London trading. 1
The move matters now because Glencore is a major producer and trader of copper, a metal used in power cables and construction, so shifts in the copper price can quickly change sentiment toward the stock. Copper jumped to records above $13,000 a metric ton on Monday, Reuters reported. 2
A tighter copper market has become a headline driver for Europe’s basic resources sector, which includes Glencore and peers Rio Tinto and Anglo American. Those miners drew support from higher copper prices at the start of the week, a Reuters report said. 4
Reuters said copper’s rally has been underpinned by fears of shortages, strong demand tied to data centres for artificial intelligence and electric vehicles, and renewed focus on “critical minerals” supply chains after Venezuela-related geopolitical shocks. 2
“Copper prices need to rise further to persuade miners to generate significant new production,” SP Angel analyst John Meyer said in a Reuters report on Monday. 2
But the copper story has frayed edges. Macquarie analyst Alice Fox said a surge in U.S. inventories suggests the global market was in a sizeable surplus last year, while the prospect of U.S. import tariffs on copper remains a complicating factor. 2
On the company news front, Metallium said in an ASX announcement on Jan. 5 that its U.S. unit signed a binding electronic-scrap (“e-scrap”) supply agreement with Glencore for up to 2,400 metric tons a year, with pricing linked to benchmark metal markets. 5
Glencore’s shares traded between 424.64 and 426.57 pence on the day, data showed, leaving the stock within touching distance of its 52-week high of 426.60 pence. Traders were watching whether the stock can clear that level after closing at 419.30 pence previously. 1
The next company milestones are close. Glencore’s corporate calendar shows its production report for the year ended Dec. 31, 2025 — alongside its resources and reserves report — is due on Jan. 29, followed by preliminary annual results on Feb. 18. 3
