Copper, but make it a comeback
Aurubis came out of Q2 in its 2025/2026 fiscal year looking a lot less like a cyclical mood swing and a lot more like a business that caught a tailwind. Management said higher metal prices, a rebound in recycling markets, solid copper product demand, and a firmer sulfuric acid market all helped the quarter land better than before.
The part investors actually care about
The big headline isn’t just that the quarter was better. It’s that Aurubis raised its full-year earnings outlook, which is corporate-speak for: “We think this good stretch has some legs.”
That matters because metals businesses can feel like riding a shopping cart with one wonky wheel — a lot of momentum, but not always much control. When the company points to multiple supportive drivers at once, it suggests this wasn’t just a lucky price swing.
Why this could move the stock
If you’re holding Aurubis, the market will likely focus on a few things:
- higher metal prices supporting margins
- recycling markets improving instead of dragging
- copper demand staying healthy
- sulfuric acid prices giving an extra boost
Put together, that’s a cleaner setup than a one-off quarter that only looks good because of accounting magic and favorable weather.
Big picture: Aurubis is signaling that the industrial metals backdrop may be less “wait and pray” and more “actually getting better,” and that’s usually a welcome phrase for shareholders.