German lead producer Berzelius Stolberg has declared force majeure on metal shipments from its Stolberg smelter in western Germany after floods hit production last week, the company said on Wednesday. Force majeure is a contractual clause invoked when factors outside a company's control render it unable to meet its commitments to customers. Force majeure was declared on contracts last week, a source with direct knowledge of the matter said.
HAMBURG (Reuters) -Aurubis AG, Europe's largest copper producer, on Monday posted strong quarterly earnings and reiterated its annual outlook on expectations of high copper demand and prices as economies recover from the fallout of the COVID-19 pandemic. Aurubis posted operating earnings before taxes (operating EBT) of 103 million euros ($125.18 million) in the second quarter ended March 31, up 72% from the previous year. The copper producer confirmed its previous forecast of operating EBT of between 270 million and 330 million euros for the full 2020/21 fiscal year from Oct. 1, 2020.
Aurubis AG, Europe's largest copper producer, on Tuesday confirmed its earnings forecast for its current financial year, after posting a sharp rise in quarterly earnings mainly on uninterrupted high production at smelter sites during the coronavirus crisis. Operating earnings before taxes (EBT) in the third quarter of its 2019/20 financial year ended June 2020 rose 91% on the year to 42 million euros ($49.35 million) with copper concentrate (ore) processing at a high level, Aurubis said. "Aurubis remains cautiously optimistic about the rest of the fiscal year," it said.