The stock was up 3.6 percent at 0713 GMT, at 71.10 pence, but remains down about 27 percent since Friday over concerns it is not doing enough to cut its debt to withstand a prolonged fall in global metals prices.

Analysts at Citi said Glencore should even consider going private via a management buyout if the market rout continued. Such a move would allow for easier steps towards a deeper restructuring in the face of slumping metals prices and could lead to a subsequent stock-market listing of assets.

"In the event the equity market continues to express its unwillingness to value the business fairly, the company management should take the company private, whereby restructuring measures can be taken easily and quickly," Citi analysts wrote in a note to clients.

(Reporting by Lionel Laurent; Editing by Sudip Kar-Gupta)