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UPDATE 1-Glencore set for record 2022 despite second-half fall

(Updates with more details, analyst quote)

LONDON, Oct 28 (Reuters) - Glencore expects second-half adjusted earnings before interest and tax (EBIT) for its trading unit to reach $1.6 billion, much lower than in the first half, but high oil and coal prices place it on track for a record 2022 performance.

Earnings in the first half had reached $3.7 billion. Its long-term annual outlook range stood between $2.2 billion and $3.2 billion.

"Glencore expects a significantly reduced, but still above average H2 marketing result... This will likely be taken as a slight disappointment by the market," said Tyler Broda at RBC Capital Markets.

Glencore's share price fell 3% at the open.

Extreme weather conditions in Australia that impacted some mines and supply chain snags in Kazakhstan as a result of the Ukraine war, led Glencore to cut its full-year production targets for coal, zinc and nickel.

But it reported a 7% increase in coal production for the first nine months of the year, driven by its Colombian Cerrejón mine.

Copper output fell 14% to 770,500 tonnes, partly due to continued reduced output from the Katanga mine in the Democratic Republic of Congo (DRC).

Glencore in July cut its full-year copper guidance to 1.06 million tonnes for the year, down from 1.11 million tonnes previously because of geotechnical problems at the Katanga open-pit operation. (Reporting by Clara Denina, Muhammed Husain in Bengaluru; Editing by Sherry Jacob-Phillips and Barbara Lewis)

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