glencore plc on wednesday reported record profit for its marketing and industrial businesses for 2022 and said demand for many of its commodities is likely to remain healthy given the reopening of china following coronavirusrelated lockdowns while supply constraints persist and inventories remain relatively low heres what the angloswiss commodity mining and trading company had to say industrial assets adjusted ebitda 273 billion up 59 primarily reflecting a 130 billion increase from energy products in line with significantly higher coal prices as well as the cerrejon partner buyout contribution metals 93 billion down 27 billion reflecting higher costs and lower volumes energy 186 billion up 130 billion 232 unit cost results cu 80clb 13clb yy zn 38clb 42clb yy whereby 2022 is net of 23clb of noncash inventory adjustments ni 631clb 177clb yy coal 79t 166t margin energy adjusted ebit 52 billion 273 as already tight postpandemic energy markets were jolted by significant dislocation generating extreme volatility in oil refining margins freight gas and coal with prices absolute and in relation to quality and location differentials reaching multiyear highs or records in many cases metals adjusted ebit 16 billion 34 mainly reflecting challenging conditions arising from chinas prolonged covid19 lockdowns as well as higher overall inflation triggering tighter monetary conditions and demand uncertainty own sourced copper production of 1058100 tonnes was 137600 tonnes 12 lower than 2021 due to the basis change arising from the sale of ernest henry in january 2022 44800 tonnes the ongoing geotechnical constraints at katanga 44300 tonnes collahuasi planned mining sequence changes 26100 tonnes and a lower contribution from mount isa 21000 tonnes own sourced zinc production of 938500 tonnes was 179300 tonnes 16 lower than 2021 reflecting the disposalcessation of south america operations 83400 tonnes closure of matagami 30100 tonnes and lower volumes from mount isa 39600 tonnes as lady loretta approaches end of mine life own sourced nickel production of 107500 tonnes was 5200 tonnes 5 higher than 2021 reflecting murrin murrins scheduled major maintenance shut in the prior year and koniambo running two production lines for the majority of 2022 partially offset by lower production at ino due to strike action in canada and norway attributable ferrochrome production of 1488000 tonnes was in line with 2021 coal production of 1100 million tonnes was 67 million tonnes 6 higher than 2021 reflecting higher attributable production from cerrejon following the acquisition in january 2022 of the remaining twothirds interest that glencore did not already own less declines elsewhere in the portfolio on a like for like basis overall group production declined by 89 million tonnes 7 primarily due to wet weather challenges and an extended community blockade in colombia entitlement interest oil production of 61 million barrels of oil equivalent was 09 million barrels 16 higher than 2021 due to a full year of production from the alen gas project in equatorial guinea following its commencement in march 2021