Aurubis expecting smaller copper surplus

Apr 23, 2013 | 03:29 PM | Suzy Waite

Tags  Aurubis, Bingham Canyon Mine, Rio Tinto, copper, Goldman Sachs, Citigroup, LME, London Metal Exchange LME

NEW YORK — Aurubis AG expects this year’s copper surplus to be smaller than it initially forecast due to both planned and unplanned outages at a number of mines.

An April 10 wall slide at Rio Tinto Plc’s Bingham Canyon Mine will remove some 100,000 tonnes of refined copper from the market this year (, April 11), while the March shutdown of Vedanta Resources Plc’s Tuticorin smelter in India has taken out around 300,000 tonnes of copper smelter production (, April 4), Aurubis said in an April 23....

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