Aurubis stock: 2027 copper premium reported at record level

Published on 10/30/2026 at 09:59 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Aurubis stock is in focus after a reported increase in the European copper premium for 2027. The development highlights tight concentrate supply.

What The Premium Means

European buyers are reportedly set to pay a higher premium for Aurubis copper deliveries in 2027.
Negative spot processing fees underline the squeeze on copper concentrate supply.
Aurubis is scheduled to publish its 2025/26 annual report on December 2, 2026.

Aurubis, DE0006766504, Illustration mit AI erstellt.

Aurubis stock is in focus after The Maple Markets reported that the company is set to charge European buyers a record premium for copper delivered in 2027. The report, published October 26, cited market sources reported by Reuters and Fastmarkets; Aurubis declined to comment, according to the article.

The reported premium is US$347 per tonne over the London Metal Exchange price, compared with US$315 for 2026 deliveries. That represents a reported increase of about 10 percent and would strengthen the revenue contribution from the premium charged on refined copper supplied to European customers.

Tight Concentrate Market Supports Premiums

The premium is only one side of the smelting equation. Aurubis' quarterly report for the nine months through June 30, 2026, said treatment and refining charges had moved into negative territory on the spot market because smelter demand exceeded mine supply. The Maple Markets said Aurubis has limited exposure to spot purchases because long-term contracts provide concentrate well into the first quarter of fiscal 2026/27.

The market backdrop remains mixed. The International Copper Study Group forecast a refined copper surplus for 2026 and 2027, while also cutting its 2026 mine-production growth forecast because concentrate availability is constrained. That distinction matters for Aurubis: refined metal can be plentiful globally even as smelters compete for the concentrate needed to produce it.

Earnings And Next Company Milestone

Aurubis reported operating earnings before tax of EUR 374 million for the first nine months of fiscal 2025/26, up 31 percent from the prior-year period, according to The Maple Markets. The Custom Smelting & Products segment contributed EUR 355 million, compared with EUR 342 million a year earlier. The company had previously guided to full-year operating earnings before tax of EUR 425 million to EUR 525 million and said on August 6 that it expected to reach the upper end of that range.

For investors, the reported premium is a market indicator rather than confirmed company guidance. Its significance will depend on customer demand, copper prices, concentrate availability and how much of Aurubis' supply is covered by long-term contracts. The next scheduled company milestone is the annual report for fiscal 2025/26 on December 2, 2026.

Aurubis stock traded at 134.55 euros on Lang & Schwarz at 09:47 CET on Friday, October 30, 2026. Follow the real-time quote of Aurubis stock for the latest market indication.