UMMC will increase output of refined copper by 3%

SVERDLOVSK REGION

 

At the end of the period from January to June 2015, UMMC plans to produce about 199 K tons of refined copper. This is by 2-3% higher than the output within the same period last year. Meanwhile, 118 K tons of zinc (1-2% lower than the previous year) will be produced. The production volumes of gold and silver are to remain at the same level.

 

Andrei Kozitsyn, CEO of the Holding, has informed RusBusinessNews that UMMC is expected to preserve positive dynamics as the average copper price rose in January from 5.6 to 6.2 thousand US dollars per ton and will remain at approximately the same level until the end of the year.

 

According to Mr. Kozitsyn, global market again suffers from copper surplus after a quadrennial shortage. "This is a normal cyclical situation, the primary objective in this regard is to produce competitive products", he said.