Improving market conditions, good supply for concentrates and recycling materials, along with higher refining charges and metal prices are likely to lead the growth of the German metals company Aurubis.
The copper producer indicated in its Q1 2021 earnings report (for the quarter ended December 31, 2020) that it had enough supply of concentrates and recycling materials to last until Q3 2021 which ends on June 30, 2021.
Moreover, the company, which raised its forecast for the fiscal in January, noted that it expected recovery to continue for flat-rolled products on rising orders from the automotive industry.
In Q1 2021, Aurubis’ copper concentrate output increased by 24pc to 607,000mt from 490,000mt in the same quarter of the previous fiscal. Its copper scrap input rose by 2pc to 102,000mt from 100,000mt, while its cathode output surged by 19pc to 278,000mt from 234,000mt during the same quarter under comparison.
The company’s flat-rolled products and specialty wire output was up 14pc at 40,000mt in Q1 2021 compared with 35,000mt in Q1 2020.
The company’s lead sales more than doubled during the first quarter to 9,815mt from 4,286mt in Q1 2020, while its nickel sales rose 5pc to 719mt from 685mt. Aurubis began to sell zinc in the first quarter, with sales of the metal tallying at 2,822mt. The company did not sell zinc in Q1 2020.
The metals producer’s consolidated revenue grew 28pc during the first quarter to €3.4bn from €2.7bn in Q1 2020 and its consolidated net income more than doubled to €173mn from €76mn during the same period under comparison.