Commodity market fundamentals are improving against a backdrop of better than expected demand and limited, if any, inventory build through the trough of the cycle, diversified mining and marketing company Glencore said on Thursday. This comes against the background of the London-, Hong Kong- and Johannesburg-listed company reporting 18% higher earnings before interest tax depreciation and amortisation (Ebitda) at $10.3-billion, 41% lower capital expenditure to $3.5-billion and operational unit cash cost performance in zinc at a negative –5c/lb.
