Aurubis results boosted by good copper scrap supply

Germany – Major copper recycler Aurubis boosted its pre-tax operating earnings to Euro 298 million (US$ 351 million) in the 2016-17 fiscal year from Euro 213 million (US$ 251 million) in 2015/16.

According to the Germany-based group, the result was supported by ‘an advantageous input mix as well as good availability of copper concentrates, significantly higher refining charges for copper scrap with a good supply, a higher metal yield with increased metal prices, increased sales of shapes and flat rolled products and a strong US dollar’.

Aurubis expects stable-to-good demand for copper products in the coming fiscal year but acknowledges markets for copper scrap and sulfuric acid are ‘difficult to forecast’ because of their dependence on ‘many short-term and regional factors’. Among its objectives for the period, the group is looking to develop and expand sales channels for recovered metals; for example, it is working with the South Korean LS Corp on a feasibility study about the possible construction of a production factory for battery-capable nickel sulfate.