UBS cuts Capstone Copper output forecast on high acid prices
UBS lowered its FY27 production forecast for Capstone Copper by 15,000 tons on high acid costs. The shares fell 4.2% in the session.
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what happened
High acid prices keep weighing on Capstone Copper and may cut annual output more than the market anticipates, Market Talk reports, citing UBS. According to the bank, the company is cutting heap production at Mantoverde to protect its margins as cathode volumes shrink.
UBS lowered its FY27 production forecast by 15,000 metric tons to 209,000 tons, well below the 227,000-ton consensus compiled by Visible Alpha. The bank keeps a buy rating and says acid prices improving could create upside.
The shares fell 4.2% to A$11.34.
why it matters
For the copper market this is mainly a signal about one producer's cost pressure: higher reagent costs can curb leach output and squeeze revenue at current metal prices. The effect is limited to a single company.
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instruments
sources
- Capstone Copper Output Could Take Hit From High Acid Prices — Market Talk, 2 November 2026 at 00:17 UTC
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