Aurubis Sees Slight Decline in Copper Cathode Production Amid Maintenance and Expansion Efforts

Aurubis, Europe's largest copper producer and recycler, reported a slight decrease in copper cathode production during the first nine months of its fiscal year, driven primarily by a downturn in its recycling division. The Hamburg-based company announced on Friday that it produced 838,000 tons of copper cathode between October and June, marking a 0.4% decline from the same period last year.

The drop in production is largely attributed to a 2% year-on-year decrease in output from Aurubis' recycling division, which managed 383,000 tons of copper cathode during this period. The decline was most pronounced at the company's Lunen facility in Germany, where production fell by 6% to 111,000 tons due to maintenance work carried out early in the fiscal year.

However, the recycling division saw a rebound in the April to June quarter, with output increasing by 4% compared to the previous quarter. This recovery was bolstered by a 14% surge in production at the Lunen plant following the completion of a tankhouse refurbishment in June, which has increased the plant's annual copper cathode capacity by 10% to 210,000 tons.

Aurubis operates three recycling plants that produce copper cathode from scrap: Beerse and Olen in Belgium, and Lunen in Germany. While Lunen saw a slight dip earlier in the year, output from the Beerse and Olen facilities remained largely stable, mitigating the overall impact on the company's recycling output.

In contrast, Aurubis' smelting division experienced a modest growth in copper cathode production, with a 1% increase year-on-year to 455,000 tons. The Hamburg plant contributed 284,000 tons, while the Pirdop site in Bulgaria added 171,000 tons. The division's overall stability highlights the continued robust demand for copper in Europe, even as the global market faces fluctuating dynamics.

Aurubis also reported a 2% increase in concentrate throughput at its primary smelters, reaching 1.74 million tons. This was largely driven by a 15% surge in throughput at the Pirdop site, which offset a 12% decline at the Hamburg facility. The company is currently expanding the tankhouse at its Pirdop plant, a project that began in April and is expected to boost the site's refined copper output by 50% to 340,000 tons per year by the second half of 2026.

Looking ahead, Aurubis expressed confidence in maintaining stable demand for copper cathodes for the remainder of the fiscal year, supported by ongoing expansion efforts and the completion of key maintenance projects.