Aurubis expects copper refining costs to remain unchanged through most of next year, with an abundant supply of ore for processing.
In a recent media statement, Michael Helleman, the firm’s senior vice president, said mines are working at high capacity, and that copper concentrate throughput is strong. Since the cost of refining copper is driven by the supply of mined concentrates and ore, the cost will remain around $62/mt, although market participants anticipate a drop to around $60/mt next year.
Moreover, along with refined copper demand from China recovering, Aurubis, Europe’s largest copper refiner, expects to be profitable next year. It owns smelters in Hamburg, Germany, and Pirdop, Bulgaria, and operates copper recycling plants in the German city of Lunen and Olen, Belgium.