Southern Copper lifts output forecast amid tight metal market

Southern Copper raised its annual production guidance as ore quality improves and the company resolves water supply issues in Mexico, offering a little relief for a tightening global copper market. The world’s fifth-largest supplier of the wiring metal expects to produce 948 800 metric tons this year, CFO Raul Jacob told analysts on a conference call Friday. That would be 4.1% more than last year’s result and compares with a projection of 935 900 tons a quarter ago.