German copper manufacturer expects to earn between €185-250mn in the fiscal year due to higher refining charges for recycled copper and increased throughput at its manufacturing plants.
In the first nine months of the fiscal, the company’s copper concentrate ore throughput grew 6pc to 1.76mn mt, from 1.65mn mt in the prior-year period. Copper scrap inputs declined by 19pc to 278,000mt, from 343,000mt during the same period under comparison. However, Aurubis’ general recycled inputs ticked up by 9pc to 234,000mt in the first nine months of the fiscal from 215,000mt in 9M 2019.
The group’s copper cathode output in 9M 2020 fell by 9pc to 746,000mt, from 818,000mt in the same period last year. Production of copper wire rod products declined by 10pc to 561,000mt from 620,000mt, while shapes product output fell by18pc to 117,000mt from and 142,000mt, in the same period under comparison. Flat-rolled product volumes decreased by 15pc from 163,000mt in 9M 2019 to 138,000mt in 9M 2020.
In Q3 2020 ended June 30, 2020, Aurubis’ concentrate throughput surged by 35pc to 642,000mt, from 477,000mt in the same period last fiscal. Scrap inputs fell 22pc to 91,000mt from 117,000mt in the same period. However, recycling input rose by 31pc to 102,000mt, during the quarter due to the inclusion of June figures from Aurubis’ acquisition of Metallo.
Cathode production in Q3 2020 was almost flat at 272,000mt, from 268,000mt in the same quarter last year. Wire rod volumes d the quarter fell 30pc to 149,000mt from 213,000mt while copper shapes produced stood at 41,000mt, diving 11pc from 46,000mt during the same period under comparison. In the flat-rolled products segment, production declined by 13pc to 46,000mt over 53,000mt in the prior-year period.
Aurubis reported earnings of €133mn ($156.6mn), before tax, in the nine months ended June 30, 2020. The company’s profits before tax rose two-fold in Q3 2020 to €42mn from €22mn in the same quarter last year.