At a glance, About Glencore

Glencore published the plan to decrease debt through muting dividend and selling own-hold equities. They purpose a decline of debt, from current $ 30 billion to $ 10 billion within a few years.

Nevertheless, the equity price tumbled rapidly, while CDS premium soared.
What is the impact from default, or possibility of it, of Glencore in commodities markets?

What is Glencore?
Is it a kind of mining company or commodity trading company?
Until 2011, before IPO, it was a commodity trading company which had influenced global commodity market obviously. Someone considered Glencore as a invisible hand for global commodity market.
Recently, as Glencore announced a plan to decrease productions of copper, the copper price got the additional momentum to be robust. And then, is Glencore a mining company?

Additional analysis should be conducted...

White Line : Equity Price / Orange Line : CDS Premium