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Aurubis CEO expects rising copper

Wednesday, Dec 15, 2010
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HAMBURG Dec 14 (Reuters) - Copper concentrate treatment and refining charges are likely to rise in coming months, the chief executive of Europe's largest copper smelter Aurubis (NAFG.DE: Quote) said on Tuesday.


Bernd Drouven also told a press conference that repairs to a furnace damaged in an accident last week were set to be finished on schedule and concentrate processing would restart on Friday.


The accident will cause an impact of single-digit million euros in the full year pre-tax earnings, he said.


"We believe we will see rising copper product prices," he added.


The financial impact of the accident had been reduced as a planned maintenance shutdown at the Hamburg plant in September 2011 had been brought forward because of the accident and would no longer be needed.


(Reporting by Michael Hogan)

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