Southern Copper Corporation: Shift in Copper Market Dynamics & How The Company Is Adapting!

Southern Copper Corporation’s earnings centered around its 2023 results and offered insight into the company’s financial outlook. The company reported net sales of $9,896 million in 2023, which was lower by 1.5% compared to 2022. Despite the reduction, the company considers the results satisfactory, owing to higher sales volumes for copper and molybdenum, as well as better prices for molybdenum and silver. However, these achievements were partially counterbalanced by a decrease in metal prices for copper and zinc, along with reduction in the sales volumes of silver and zinc.