International commodities trader Glencore International plc (Glencore) has announced its financial results for 2012, stating that 2012 was characterized by lower prices across all base metals, though volumes remained strong and this enabled the generation of higher profits compared to 2011.
Accordingly, the metals and minerals business of Glencore reported an adjusted EBITDA of $1.37 billion in 2012, up 11 percent compared to the previous year. The company's sales revenues in the given year increased by 11 percent year on year to $48.25 billion.
In 2012, Glencore reported a significant increase in its iron ore sales volume, with its iron ore sales increasing by 92 percent year on year to 19.8 million mt.