Company: SCCO
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001104659-25-104914
Chunk: 11

Company: SOUTHERN COPPER CORP/
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 2M
Chunk 11
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 the COMEX price rising from $4.23 to $4.83 (+14.2%). Based on current supply and demand dynamics, which include the negative production effects that we are seeing in Indonesia and Chile, we are currently estimating a copper market deficit of 380,000 tonnes. Copper inventories worldwide were at the end of September at 609,000 tonnes. We estimate that this inventory currently covers approximately eight days of global demand.

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Recent U.S. tariff policy changes have thus far had a limited impact on our results.  As such, we are confident now that the long-term fundamentals of prices for copper and other metals will remain very positive.

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●Molybdenum: Accounted for 12.9% of our sales in the third quarter of 2025 and remains our most significant by-product. Prices for molybdenum averaged $24.3 per pound in the third quarter of 2025, compared to $21.68 in the same period of 2024, representing a 12.1% increase.

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Molybdenum is mainly used in the production of special alloys for stainless steel that require significant hardness, corrosion and heat resistance. New uses for this metal are associated with lubricants, sulfur filtering of heavy oils and shale gas production. 

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For 2026, we believe that prices will hold at the current level of about $20.00 per pound due to this metal’s properties and diverse applications in critical industries.

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