Aurubis AG – Impact of the Copper Price Rally on Corporate Outlook

Share Performance

The German copper smelter Aurubis AG (Xetra: AUH) recorded a closing price of €159.90 on 27 January 2026. This level is within the current 52‑week range of €71.10 – €163.60. The company’s market capitalisation stands at €6.80 billion, and its price‑earnings ratio is 12.54.

Market Reaction

On 28 January 2026 the MDAX showed a modest decline of 0.3 percent, yet Aurubis’s shares reached an all‑time high. The rally was driven by sustained increases in copper prices and strong demand for copper products. Investors responded positively, pushing the stock to record levels.

Earnings Guidance

Aurubis announced an upward revision of its operating earnings before tax (EBT) forecast for the fiscal year 2025/26. The guidance has been adjusted from an earlier range of €300 million to €400 million to €375 million to €475 million. The update reflects:

  • Higher copper and precious‑metal prices.
  • Improved production volumes at its Hamburg smelting and refining facilities.
  • Enhanced profitability from by‑product metals and chemicals.

The company reiterated that the revised outlook is consistent with the current market environment and the continued demand for copper in power cables, building wires, and other electrical applications.

Industry Context

Aurubis is the largest copper producer in Europe and operates a full chain of copper smelting and refining. Its portfolio includes copper rods, cakes, cathodes, billets, bars, and a range of by‑products such as precious metals and chemicals. The recent copper price surge has directly benefited the company’s revenue streams and margin profile.

Summary

  • Share price: €159.90 (close 27 Jan 2026), within 52‑week high/low range.
  • Market cap: €6.80 billion; P/E: 12.54.
  • MDAX: modest decline, Aurubis shares reached an all‑time high.
  • Guidance: EBT forecast for 2025/26 raised to €375 – €475 million.
  • Drivers: Elevated copper prices, strong demand, improved production.

The combination of a robust copper market and the company’s operational strengths positions Aurubis for continued upside in the near term.