Aurubis profits drop on weakness in scrap, acid markets

Tight supply of copper scrap and low prices for sulphuric acid dented Aurubis’ earnings in the six months ended March 30, the company said on Tuesday May 10.

The weakness in both markets offset stronger treatment and refining charges for copper concentrates and robust product sales, and led to a 38% decline in pre-tax operating earnings and a 14% slump in revenues during the six-month period, Hamburg-based Aurubis told investors. 
The Metal Bulletin Copper Concentrate Index averaged $101.4 per dmt/10.14 cents per lb in the fourth quarter of calendar year 2015. This compared with an average of $89.7/8.97 in the third quarter.

The company’s...

Published

Mark Burton

May 10, 2016

12:15 GMT

London