Aurubis posts $280M loss on weaker prices, tighter scrap

Aug 15, 2013 | 02:00 PM | Alice Whitfield

Tags  Aurubis, copper, copper concentrate, copper scrap, Peter Willbrandt, alice whitefield

LONDON — Aurubis AG posted a €210-million ($280-million) loss for the nine months ended June 30, in contrast to earnings of €295 million in the same period a year earlier, as lower metal prices and reduced scrap availability affected the copper smelter’s profitability.

"While processing fees for copper concentrate and cathode premiums were at a high level (this year), the copper scrap markets were under pressure," chairman Peter Willbrandt told investors.....

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