Glencore's commodities traders are set to report a bumper first-half performance while copper production grew, as the commodities giant largely backed its full-year guidance. Glencore said Wednesday that its marketing division is set to report adjusted earnings before interest and taxes of around $3.3 billion. This compares with the $1.4 billion the unit booked in the same period last year when U.S. tariff policy uncertainty and tensions in the Middle East weighed on the macroeconomic environment.

Copper production for the first 6 months of the year rose 15% to 397,000 metric tons. The company has made copper central to its strategy and is investing heavily to become one of the world's largest miners of the metal.

Its full-year production guidance for copper, zinc and nickel was kept unchanged. The mid-points of energy and steelmaking coal guidance were shifted up by 1 million tons and down by 1 million tons, respectively.